Udyam Registration is a new online registration process introduced by the Ministry of Micro, Small and Medium Enterprises (MSME) in July 2020. Udyam Registration replaces the previous process of MSME registration and aims to simplify the registration process and make it more transparent.
📖 Go to the Udyam Registration portal (https://udyamregistration.gov.in/).
📖 Click on the 'For New Entrepreneurs who are not Registered yet as MSME' button.
📖 Fill out the registration form with your personal and business details, such as your name, Aadhaar number, business name, and PAN number.
📖 Provide additional information, such as the type of business entity, business address, and date of commencement of business.
📖 Self-certify the information provided in the registration form and submit the application.
📖 Upon submission, you will receive an Udyam Registration number.
It is important to note that the Udyam Registration is applicable only to businesses that fall under the definition of MSMEs. The definition of MSMEs has been revised under the Udyam Registration system, and businesses with a turnover of up to Rs. 250 crore and investment in plant and machinery of up to Rs. 50 crore are eligible for registration as MSMEs.
The benefits of Udyam Registration include easy access to credit, protection against delayed payments, and government subsidies and schemes for MSMEs.