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MSME (Ministry of Micro, Small & Medium Enterprises)
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MSME (Ministry of Micro, Small & Medium Enterprises)
MSME as in Micro, Small and Medium Enterprises are the backbone of the Indian economy. Also known as small-scale industries or SSIs these businesses contribute substantially to the GDP of India.
Irrespective of the nature of the Industry i.e. Service or Manufacturing, MSME registration can be applied by all if they qualify for it.
Though this registration is not mandatory, however, this registration provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans, etc.
MSME registration was made further simple with the Udyog Aadhaar in 2015. Udyog Aadhaar is a complete online framework and has made this registration even further simple.
Benefits of MSME registration
Your MSME registration (Udyog Aadhaar) gives you a long set of benefits like:
- Loans get easily processed and no security deposits are needed by the banks and interest rates are further reduced by major banks
- Electricity bills for such organizations are further discounted
- MSMEs are favored by the Government while allotting tenders
- The government fees for patents and trademarks is discounted for such organizations
- MSMEs don’t need to pay stamp duty and other registration charges
- MSMEs get industrial promotion subsidy
What are the different categories of Micro, Small and Medium Enterprises in India
Micro Enterprises:
An organization engaged in manufacturing or service sector with an investment of less than INR. 1 crore and turnover less than INR. 5 crores.
Small Enterprises:
An organization engaged in manufacturing or service sector with an investment of less than INR. 10 crores and turnover less than INR. 50 croresMedium Enterprises:
An organization engaged in manufacturing or service sector with an investment of less than INR. 20 crore and turnover less than INR. 100 crores.How does Tohund Guide help you?
Our Experts provide you all the regular updates right from the filing of an application to getting your registration done.
Documents Required
Aadhaar Card
Pan Card
Voter ID
Bank Statement
Electricity Bill
NOC
Passport Size Photo
Business Description
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FAQs
If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.
Yes, a minimum of two directors are needed for a private limited company. The maximum members can be 200. You can register as a One Person Company,, if you are the sole owner of the company.
Yes, a salaried person can become the director in private limited, LLP or OPC private limited company. One needs to check the employment agreement if that allows for such provisions. In a lot of cases, the employers are quite comfortable with the fact that their employee is a director in another company.
A private limited company must have at least one owner. This means that one person (or corporate body) can be the sole owner of a company.
A Private Limited Company is a Company which has a Minimum of Two members and a Maximum of 200 Members. To calculate members, present and past employees are excluded. A Private Limited Company can not invite general public to subscribe its securities.
A Memorandum of Association (MoA) represents the charter of the company. It is a legal document prepared during the formation and registration process of a company to define its relationship with shareholders and it specifies the objectives for which the company has been formed.
A shareholder owns and controls a limited company through the purchase of one or more shares. A director is appointed to manage a company on behalf of its shareholders. Whilst the roles of directors and shareholders are completely separate and very different, it is normal for one person to hold both positions
MOA. Memorandum of Association (MOA) is a document that contains all the fundamental data which are required for the company incorporation. Articles of Association (AOA) is a document containing all the rules and regulations that govern the company.
A business owner is someone who derives profit or income from a company's operations, whether or not he participates in its management. A CEO is an paid executive manager who guides the day-to-day activities in the company.
Definition: The Articles of Association or AOA are the legal document that along with the memorandum of association serves as the constitution of the company. It is comprised of rules and regulations that govern the company's internal affairs.
The top of most management teams has at least a Chief Executive Officer (CEO), a Chief Financial Officer (CFO), and a Chief Operations Officer (COO).
To print this article, all you need is to be registered or login on Mondaq.com. Generally, logos and designs that are used as brand identities for representing businesses are protected as trademarks. As they are original artistic works that have an element of creativity, they are also protected as copyrights
If you want to protect your brand identity you have to register a trademark for your company name, logos, and slogans. By using the trademark symbol, you notify other people that products they use are your property. In order to prevent unauthorized use of your mark by third parties, you have to choose a strong one.