MSME Registration and Licensing
The Micro, Small and Medium Enterprises are considered as a very significant piece of India’s legacy economic model and a part of the critical supply chain for products and services. This sector is the job creator as well as play a crucial role in providing large-scale employment and industrialization of rural and backward areas.
Although getting MSME online registration is not mandatory but it is always suggested to small and medium enterprises to get it done it provides a variety of benefits. Benefits such as rate of interest charged would be very less, tax subsidies, capital investment subsidies and much other support from the government sector.
According revised classification w.e.f. 1st July, 2020, MSME classified into 3 categories as per their Investment in Plant & Machinery and Annual turnover.
Corporate Mitra can help your business obtain MSME Registration online to avail a host of benefits
BENEFITS OF MSME/SSI REGISTRATION
There are multiple benefits of MSME / SSI registration for small businesses:
Cheaper bank loans :
The rate of interest on loan offered to MSMEs is 1-1.5% lower compared to typical business loan interest.
Easy access to credit :
PM Modi has introduced the Mudhra Loan scheme, which provides loans to MSME / SSI without collaterals.
Quicker approvals from state and central government bodies:
Business registered under MSME are given higher preference in terms of government license and certification.
Tax rebates :
MSME / SSI registered businesses enjoy multiple income taxes and capital gains tax subsidies from the government.
Cheaper infrastructure :
Charges are lower for MSME registered company for facilities such as electricity and VAT exemptions. In fact, other business services such as patents are also cheaper for MSMEs.
Access to tenders :
There are multiple government tenders which are open only to MSMEs to promote small business participation in the India.