31st October 2020
Business

What Are the Benefits of Udhyog Aadhar Online?

The micro, small, medium enterprises or MSMEs are a significant contributor to our country’s economy. Therefore, to promote and facilitate the efforts of the MSME businesses, the Indian Government had introduced the Udyog Aadhar, now known as Udyam Registration. If you own a small, medium, or micro business enterprise, apply for Udyam Registration or Udhyog Aadhar online right this second!  

Are you wondering why? Read on to find out. 

About Udyog Aadhar

The Udyam Registration or Udyog Aadhar is a government identification system that certifies a firm as an MSME. This registration method provides a recognition certificate and a unique number to small, micro and medium businesses. 

To enjoy the benefits of Udyog Aadhar, apply online and get your MSME registered. The Udhyog Aadhar online registration process is straightforward as it is based on self-declaration, and doesn’t require the submission of many documents or proofs. Only your Adhaar Number is required. Furthermore, the Udyog Aadhar or Udyam Registration issues the registration certificate free of cost.

Benefits of Udyog Aadhar

There are numerous benefits of getting your MSME registered under Udyog Aadhar or Udyam Registration. They are- 

  • You can get easy access to collateral-free loans from financial institutions – meaning that you can avail credit without pledging any collateral.
  • You can get access to loans at lower interest rates. This is especially helpful if you are taking a business loan, as you can benefit from lower business loan interest rates.
  •  You will get protection against any delay in payment.
  • A reduction in the cost of patent registration. 
  • The Udyam registration can get you a concession on electricity bills.
  • You can enjoy several tax exemptions under direct tax laws.
  • You will get access to exclusive government subsidies along with other government provisions for your business.
  • MSMEs registered under Udyam registration can take part in Government tender auction. You can also avail exemption while applying for government tenders.
  • The Indian Government encourages Udyam registered MSMEs to take part in international business fairs, to showcase and promote their products and services. 
  • An Udyam registered MSME business owner can claim reimbursement on the money that was spent on obtaining ISO certification.
  • MSME owners can also avail subsidy on NSIC and credit ratings. You are also eligible for IPS subsidy.

All the benefits listed above become vital as they provide the necessary boost that medium and small enterprises need. Additionally, you can couple the benefits of Udyog Aadhaar with a business loan to further expand or modernize your business. 

Whether you want to invest in new business infrastructure or boost cash influx, a business loan can provide you with adequate finance quickly. 

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