What is the registration of MSME?
Any company that comes under the category of MSME needs t to ensure they are registered under the MSME category. MSME registration stands for the micro small and medium enterprises registration. MSMED Act has been launched by the government of India to support the MSME through various schemes, subsidies, and incentives. With MSME Registration, banks also provide the loans at lower rate of interests, as these MSME play an important role in the country’s economic growth.
MSME Registration Process
Now that you know how to categorise different businesses according to their nature of business and investments, the next step is to know how to register a business as an MSME. This registration requires a few documents, personal details, details about the individual and so on. Read on further to know more about the registration process in the MSME Sector.
Before starting the process, ensure that you have an Aadhar Card. Aadhar Card is compulsory in the registration of MSME. In case you do not have one, an application is to be filled online.