UDYAM REGISTRATION
Udyam Registration is also known as MSME Registration. It is basically a government-issued registration for businesses. This is to certify small and medium-sized businesses or organizations. It comes with a certificate of recognition and a unique number. The main goal of this facility was to provide a mechanism for the government to give benefits to medium and small-scale firms and industries in India that are registered under MSME using their Aadhar Card Number. The entity's owner, director, or proprietor must supply his or her 12-digit Aadhar Number. Whether the business or organization is a sole proprietorship, an LLP, a private limited company, or something else, this is a legal need. It should have a certificate of recognition obtained through the MSME registration process. After registering a business and getting Udyam Registration, one will be able to take advantage of some benefits. The great part of obtaining Udyam Registration is that it is a straightforward process that does not require one to deal with any paperwork.
HERE ARE SOME BENEFITS OF UDYAM REGISTRATION:-
- Registration with Udyam facilitates the acquisition of government contracts.
- Bank loans become cheaper as a result of the Udyam since the interest rate is very low (up to 1.5 percent lower than conventional loans).
- Obtaining licenses, approvals, and registrations become simple, regardless of the industry of the company. For government licenses and certification,
- Easy credit with fewer interest rates.
- Registration aids in lowering the cost of obtaining a patent or the cost of establishing an industry.