If you own a medium, small, or micro-enterprise and haven't yet registered it, you should know that doing so with Udyam/msme Registration comes with a slew of advantages. There used to be an EM-I/II system prior to the UAM system (Entrepreneur Memorandum). Entrepreneurs used to choose a heterogeneous system under this system.

Some of them used to rely on the national portal, while others relied on state-run portals to complete MSME registration. Furthermore, only a few of them used to rely on paper documents.

The main goal of this facility was to provide a mechanism for the government to provide the most benefits to medium and small-scale firms and industries in India that are registered through MSME using their Aadhar Card Number.

The 12-digit Aadhar Number of the entity's owner, director, or proprietor must be provided. This is a legal requirement regardless of whether the firm or entity is a sole proprietorship, an LLP, a private limited company, or something else. It is necessary to have a certificate of recognition obtained through the MSME registration process.

Who is eligible for registration?

Udyam Registration is open to organizations that work in the production, processing, or preservation of commodities or provide services.

Udyam Registration is not available to traders that purchase, sell, import, or export goods.

On the basis of the following criteria, an enterprise is categorized as a micro, small, or medium enterprise:

A microbusiness is one with a total investment in plant and machinery or equipment of less than one crore rupees and a turnover of less than five crore rupees.

A medium-sized business with a turnover of less than 250 crore rupees and an investment in plant and machinery or equipment of less than fifty crore rupees.

Benefits of Udyog Aadhar Registration:

1. After registering their MSME, the applicant would be eligible for all government schemes, including easy loans, no-guarantee loans, and loans with discounted interest rates, among others.

2. The applicant will be given financial assistance in order to participate in foreign expos in order to promote their products.

3. The candidate will be eligible for government financial assistance.

4. Registration would make it easier to open current bank accounts in the name of the company, among other things.

5. It would also make it possible for enterprises to apply for government micro business loans and other similar programs.

Self-declaration for MSME registration:

1. In the event of a proprietorship firm, the Aadhaar number shall be that of the proprietor, of the controlling partner in the case of a partnership firm, When it comes to a Hindu Undivided Family and a Karta (HUF).

2. If a company, a limited liability partnership, a cooperative society, a society, or a trust is a corporation, a limited liability partnership, a cooperative society, a society, or a trust, they must provide their GSTIN and PAN, as well as their Aadhaar number.

3. The applicant's proofs

4. If applicable, a certificate of casting

5. The name of the business entity and the type of business entity

6. Any previous registration information, if applicable

7. Information about the bank, including the IFSC code

8. National Identification Number (NIC)

9. Total capital expenditure on equipment and machinery

10. If necessary, the details of the DIC closest to it

Suggested read- Print Udyam Registration Certificate

Following the submission of this form, an acknowledgment form including the applicant's unique UAN is sent to the applicant's registered email address (Udyog Aadhaar Number). Because this is a self-declaration form, there is no need for any additional papers.