MSME Registration empowering small business


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Uploaded on Jul 12, 2024

Category Business

This PowerPoint presentation explores the significance of MSME registration in empowering small businesses. It covers the benefits, eligibility criteria, and step-by-step process of registering under the MSME Act. The presentation highlights how MSME registration can enhance access to benefits like subsidies, loans, and government schemes, thereby fostering growth and competitiveness among small enterprises.

Category Business

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MSME Registration empowering small business

MSME Registration: Empowering Small Businesses Unlocking Opportunities and Benefits INDEX • INTRODUCTION • Types of MSMEs • Objectives of MSME Registration • Economic Empowerment • Documents Required • Registration Process • Challenges • Solutions • Contact Information • Thank you INTRODUCTION • MSME stands for Micro, Small, and Medium Enterprises, categorized based on investment in plant machinery/equipment and turnover. • MSMEs are vital for economic growth contributing significantly to GDP and fostering innovation and entrepreneurship. • Governed by the Ministry of MSME, registration offers various financial incentives, procurement preferences, and support schemes. • MSME registration aims to provide formal recognition and support to small businesses, enhancing their credibility and access to benefits. • They contribute to industrialization and balanced regional growth. TYPES OF MSMES • Micro Enterprises: – Micro enterprises are the smallest category within MSMEs. – Manufacturing Sector: Investment in plant & machinery does not exceed Rs. 1 crore. – Service Sector: Investment in equipment does not exceed Rs. 10 lakh. • Small Enterprises: – Small enterprises are larger than micro enterprises but smaller than medium enterprises. – Manufacturing Sector: Investment in plant & machinery ranges from Rs. 1 crore to Rs. 10 crore. – Service Sector: Investment in equipment ranges from Rs. 10 lakh to Rs. 2 crore. • Medium Enterprises: – Medium enterprises are larger than both micro and small enterprises. – Manufacturing Sector: Investment in plant & machinery ranges from Rs. 10 crore to Rs. 50 crore. – Service Sector: Investment in equipment ranges from Rs. 2 crore to Rs. 10 crore. OBJECTIVES OF MSME REGISTRATION • Formal Recognition • Skill Development • Operational Support • Business Credibility • Access to Government Schemes • Financial Support or Incentives • Enhanced Market Opportunities Note :- Click here to Print Udyam Certificate. ECONOMIC EMPOWERMENT • Role of MSMEs: – Significant contributors to employment generation and GDP growth. – Vital for inclusive economic development, especially in rural and semi-urban areas. • Job Creation: – MSMEs are major employers, providing livelihoods to a large segment of the population. – Foster entrepreneurship and reduce unemployment rates. • Industrial Output: – Contribute to manufacturing output, catering to diverse sectors including agriculture, manufacturing, and services. – Enhance export earnings through production and innovation. • Regional Development: – Promote balanced regional growth by decentralizing economic activities. – Strengthen local economies and reduce migration to urban centers. DOCUMENTS REQUIRED • Aadhar Card: Identification of the applicant • PAN Card: Permanent Account Number of the applicant. • Business Address Proof: Valid document showing the business address. • Partnership Deed or MoA / AoA : Depending on the type of business entity. Note :- Apply for Udyam Re-Registration Via Udyam Portal. STEP-BY-STEP REGISTRATION PROCESS • Visit the Udyam Registration Portal • Create an Account • Provide Business Information • Classify the Enterprise • Upload Documents • Verification and Submission • Verification and Submission CHALLENGES • Limited Access to Finance: – Difficulty in obtaining loans and credit facilities due to lack of formal recognition. – Higher interest rates and stringent collateral requirements. • Lack of Government Support: – Ineligible for government schemes, subsidies, and incentives reserved for registered MSMEs. – Missed opportunities in procurement from government agencies and larger corporations. • Market Constraints: – Limited market visibility and access to larger markets. – Competitive disadvantages against larger, registered enterprises. Note :- to Update your Udyam Registration Certificate, Click : Update Udyam Certificate. SOLUTIONS • Access to Finance: – MSME Registration facilitates access to easier credit facilities and loans at lower interest rates through initiatives such as MUDRA, PMEGP, and CGTMSE. • Government Support: – Eligibility for government schemes, subsidies, and incentives designed to support MSMEs in areas like technology upgradation, marketing, and infrastructure development. • Market Opportunities: – Enhanced market credibility and trust among clients and partners, leading to increased business opportunities and collaborations. CONTACT INFORMATION https://msmeregistrar.net/ 9355583491 [email protected]