Why not establish your own small business if you’re tired of working for others? Get your business registered right away with a professional touch.
MSME stands for Medium, Small and Micro Enterprises which is governed by the MSME Act. MSMEs are considered as the backbone of our economy because when this sector grows, the whole economy of the country grows and flourishes. The government, therefore, has taken various steps to resolve the financing and cash flow situation faced by the MSME sector. MSME sector has created approximately 11 crore jobs across the country and contributes 29% to the Indian GDP which is even expected to grow more in the future given the government’s “Make in India” initiative.
The MSME sector was established to promote, develop and facilitate the competitiveness of smaller businesses in the economy. A business, whether in the manufacturing line or the service line, can register under the MSME act. It is not mandatory to take registration under MSME but it is advantageous for a business to get itself registered under MSME, because it provides various benefits in terms of setting up of business, credit facilities, loans, taxation etc.
Any manufacturing enterprise or service rendering enterprises can register themselves as a micro, small and medium enterprise if they satisfy the composite threshold limit mentioned below :-
less than 1 crore
less than 10 crore
less than 50 crore
*Investment – The original value (Purchase Price) of Plant and Machinery or Equipment is to be considered while calculating the amount of Investment.
Both existing as well as new businesses who satisfy the above threshold condition can apply for MSME registration.
As long as the business is ethical, functioning and financially healthy, there is no expiry date for the registration.
No, a trader is not covered in the definition of MSME because trading companies act as middlemen between manufacturer and customer, and there is hardly any innovation and capital investment.
No, a single MSME registration is valid for all branches/ units of the same business. However, one must furnish the details of multiple branches/ units.
» Forest and Logging
» Fishing and Aquaculture
» Wholesale, Retail Trade, and repair of motor vehicle and motorcycles
» Wholesale Trade except for motor vehicles and motorcycles
» Retail Trade except for motor vehicles and motorcycles
» Activities of households as employees for domestic personnel
» Undifferentiated goods and services-producing activities of private households for their own
» Activities of extraterritorial organizations and bodies
TReDS stands for Trade Receivables electronic Discount System. It is an online mechanism through which trade receivables of MSMEs can be financed by various financiers and also enables discounting of Invoices raised against large corporates, thereby reducing the pressure on working capital needs.
E-Markets are virtual trade fairs and exhibitions to revive businesses, promote exports and recognition.
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