The goal of Udyog Aadhar Registration is to simplify the process associated with MSME registration.
Udyog Aadhar Registration is the government’s attempt at boosting small and medium enterprises (SMEs) without the need of a lot of paperwork. The process adheres to the rules of digital India and therefore, is a completely online process. Additionally, the entire registration won’t cost you anything and once you get it, you become entitled to several government schemes.
This blog is going to look into the Procedure of Udyog Aadhar Registration and its benefits.
The Process of Udyog Aadhar Registration
The entire process of Udyog Aadhar registration is to file two forms: Entrepreneur memorandum I and Entrepreneur Memorandum II. Filing two forms is a great relief as compared to earlier, where companies needed to fill 11 forms.
- Fill the form: The Small or Medium Enterprise (SME) owner first have to fill the application through online or offline means.
- Choosing individual registration: The Individual Registration option allows the owner to register more than one industry.
- Self certify the company: The MSME has to self-certify itself by providing information that includes: Business activity, bank account, employment details.
- Attach the documents: Following are the documents required for Udyog Aadhar Registration. You need to upload the below mentioned documents, after self certifying them.
- A copy of Aadhar of the SME owner
- Personal Information about the applicant
- Name of the business
- Type of business
- Residential proof of business
- Date of starting the business
- Details of any other registration
- Major activity of the business
- NIC (National Industrial Classification) Code
- Number of employees
- Details of money invested in plants and machinery
- Details of the District Industry Center
- Get the Registration Number: After submitting and filing the application, a registration number is generated and forwarded to the business owner.
The benefits of Udyog Aadhar Registration
There are several key benefits to this form of registration and all of them are listed below:
- Access to the Government benefit schemes: The government has introduced quite a few schemes to aid small and medium enterprises. These schemes are easy loan, guarantee-less loans, low-interests loans.
- Financial support to represent itself on an international stage: SMEs receive financial support from the government to represent their business on international trade conventions, expos etc.
- Access to government subsidies: Through Udyog Aadhar Registration, MSMEs can avail government subsidies in business registration and IP registration services.
- Easy bank account opening: Udyog registration has paved the way for the businesses to open bank account under the business’s name easily.
- Access to micro business loans: Micro Businesses need loans to survive in their initial stages. Fortunately, Udyog registration has opened doors to avail a lot of micro business loans at low-interests.
Udyog Aadhar Registration has paved the way for the Small businesses to avail government aid without the need of a lot of paperwork. The process of Registration is quite easy and being cost-free, we would recommend this registration to everyone.