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MSME stands for Micro, small & medium enterprises. As per the government, it is not mandatory to get registered under MSME or to go for MSME registration online but it is suggested that small & medium enterprises should go for it as it can provide you various benefits in the form of business setup, taxation, credit facilities, loans etc. Micro, small and medium enterprises (MSME) involved in manufacturing or service area can obtain registration under the MSME act.
Any type of business entity can obtain Udhyam Aadhaar registration online such as sole proprietorship , Partnership firms, HUF’s, Public limited companies, Private limited companies, Limited Liability partnerships, One person companies , Co-operative societies, Production companies, any AOP’s, other undertakings etc.
In order to obtain the MSME registration, there is a set specified criterion that a business entity needs to meet in order to classify themselves as Micro, small and medium enterprises (MSME). There is a lot of paper work you need to do at the time of starting a business and getting MSME or SSI registration through the manual process. Therefore, it is advisable that you can now easily do the MSME registration online and can obtain an MSME certificate.
Now, Udhyam Aadhaar registration/MSME registration is completely an online process and after registration, you can avail various government benefits such as easy loan approvals, subsidies etc.
There are 3 types of MSME or SSIs which can be classified as under:
Enterprise | Investment in Plant and Machinery/ Equipment | Turnover |
---|---|---|
Micro Enterprise | upto Rs. 1 crore | upto Rs. 5 crore |
Small Enterprise | more than Rs. 1 crore but not exceeding Rs. 10 crore | more than Rs. 5 crore but not exceeding Rs. 50 crore |
Medium Enterprise | more than Rs. 10 crore but not exceeding Rs. 50 crore | more than Rs. 50 crore but not exceeding Rs. 250 crore |