The ministry of micro, small, medium enterprises (MSME) launched a new program called Udyog Aadhaar, this program was inspired by Prime Minister’s Radio Show “Mann Ki Baat”, where he had expressed about how to make the process simple to set up a new business with a single-page registration form.
A mass amount of enterprises in India don’t register their business due to burdensome paperwork involved in the registration process, and hence they can’t take benefit of government schemes. The Idea of Udyog Aadhaar and the simplification of the registration process have thus ensured wider coverage of MSMEs to avail the benefits under various Schemes of Central/ State governments.
On registration at Udyog Aadhaar Portal a 12 digit registration number will be issued by the Ministry of Micro, Small and Medium Enterprises (MSME) to new small and medium enterprises or the existing ones. This initiative of one page Udyog Aadhaar Memorandum (UAM) has simplified the former lengthy and complicated process of filing for MSME registration where the small and medium enterprises had to fill Entrepreneur Memorandum –I (EM-I) and Entrepreneur Memorandum –II (EM-II) forms which used consist 11 different forms along with the necessary attested certificates.
With the introduction of the new online process of Udyog Aadhar, the registration process has become easier and has also reduced the time and efforts taken which used to get consumed for the former procedure of applying and verification of documents for the MSME Registration.
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Benefits of Udyog Aadhaar Registration
- Once your enterprise gets registered with micro, small, medium enterprises (MSME), you will be eligible for all government benefits and schemes like low rate interest, easy loan, a loan without guarantee, etc.
- MSME Registered Enterprise will be entitled to Government Subsidies.
- Your Enterprise once registered with MSME will get financial support from the Government to take part in foreign expo.
Features of Udyog Aadhaar Memorandum
- Udyog Aadhaar allows enterprises to register online.
- The former lengthy process of filing of EM-II has been made short and simple.
- Udyog Aadhaar allows an easy and hassle-free transaction to the enterprises.
- Once registering at Udyog Aadhaar you will be provided a unique number called Udyog Aadhaar Number, this number can be used in the future to avail of various services.
- The registration of MSME at Udyog Aadhaar is absolutely free of cost.
- You can register one or more enterprises.
- The Registration process will not require or ask for any documents.