What is Udyog Aadhar and Why Udyog Aadhaar Registration is Important?
If you are running a small business or you are just planning on doing a small scale industries registration you might have heard about Udhyog Adhar that has been helping business to achieve more. So, if you don’t know how it can help you and why it is essential to get micro small and medium enterprises registration, here is everything that you need to know.
What is Udhyog Registration?
Today in this world, the MSME business is playing a significant role in growth towards the country. MSME stands for the micro, small and medium enterprise. These small businesses play a crucial role in developing the country. Lately, the government is giving more attention to such companies so that they can grow more towards the development of the company. There are various schemes offered by the government that will help the small businesses in many ways possible. These schemes include ease in getting loans and many of the other financial benefits that will help to grow your business.
Now, you might be thinking this is all about the business and small scale. How is Udhyog Adhar connected to it and what is it.
The government needs to know if the businesses you are availing the scheme for is valid. For that, the Udhyog Adhar registration comes in. You can do your micro small and medium enterprises online registration and once approved, your business will be eligible to take advantage of all the scheme that is introduced by the government for small business.
More about the Udhyog Aadhar
To confirm and track your business record, it is mandatory to get national small scale industries registration and get your 12 Digit unique Udhyog Aadhar memorandum number. MSME Department checks all of the track of your business. It came into existence back in Oct 2015. Since then, it has helped many of the small business and micro business to avail the scheme of the government. It also makes the whole investment process more comfortable by getting easy loans.
There are various benefits of Udhyog Aadhar that you will get when you complete the Laghuudyog registration.
The and the foremost thing that you will have to do is get the registration. If you are thinking it is the hard part then you are wrong. The micro small and medium enterprises online registration is simple, all you have to do is simply enter the information that is asked. Once you do it, you might be asked to send them the proof of documents.
After that, you are all ready to complete the registration process and get the 12 digits unique Udhyog Aadhar number. Once you get the number and the registration process is completed, you can further get all the advantages that are given below. Moreover, you can also do the whole process online, if you don’t want to go out of your house and wait in the queue until your turn comes. You can submit all the information as asked and once you click on the submit button, you will be asked to upload the proofs. After that, you have completed the process. Yes, it is that simple.
Coming back to the main benefits that you will get once the registration is done, The first benefit that you will get is easy loans. No matter how your business is or how much money do you make, sooner or later, you will need a loan to grow your business. Getting a loan is one of the most challenging things as you will need to provide many things and have many chances of your loan getting rejected.
You will have to add guarantee, and also the interest rates are high. For a small business, it is quite a tricky thing. Once the LaghuUdyog registration is done, it will be effortless to get loans. Moreover, it will be a lot easier to get a loan without a guarantee. There are various subsidies offered by the government if you are operating a small business. After you have done small scale industries registration, it will be easier for you to get less interest.
Your business not only get famous in your own country, but you can also showcase your product all over the world. When you have micro small and medium enterprises registration, the government allows you to participate in various kind of foreign expos. Moreover, you can also get the financial support that will help you out to showcase your product in front of many people.
Current Bank account
Although, it is not a big deal you will save a lot of your time when you want to open a current bank account. Just by providing the number, it will be a lot easier to open a bank account in the name of your business.
Subsidies and other schemes
The other benefit of getting micro small and medium enterprises online registration is getting the government subsidies. This will be easier for you to getting government subsidies. You can save that money and invest in your business to grow it bigger. Along with these, several other schemes are introduced by the government for all the small businesses. However, to be a part of all of them and to get the advantage, it is mandatory to get national small scale industries registration.
So, these are the several benefits that you will get when you have applied and got the Laghuudyog registration. Along with these, you also will be eligible for all the future schemes that the government will introduce for small and medium scale businesses. As now the government is giving more attention to this thing, there will more schemes that will enhance the way you do business and will help you a lot by just getting a simple Laghuudyog registration. So, this was all about the Udhyog Aadhar and why it is essential for every small business to get the registration to claim the benefits.