Small business plays an important role in the development of any country's economy. To encourage new and existing businesses, the Government of India has launched a number of projects to help small and medium-sized businesses survive and grow. To get all these beneficial schemes, you need to Udyam Registration. Udyam Registration is also known as MSME Registration or SSI registration.

Udyam or MSME classification
Companies under the following three categories may apply for MSME registration

Micro Enterprises : It is an enterprise whose investment is less then INR 2.5 crore and yearly turnover are less then INR 10 crores.

Small Enterprises : It is an enterprise whose investment is less then INR 25 crore and yearly turnover are less then INR 100 crores.

Medium Enterprises : It is an enterprise whose investment less then INR 125 crore and yearly turnover is less then INR 500 crores.

Benefits of Udyam or MSME Registration

1) Concession in Electricity bills

2) A subsidy for Bar Code registration

3) Waivers in Security Deposit and EMD in Government Tenders

4) Reimbursement of ISO Certification charges

5) Income Tax Exemption

6) 50 % Subsidy on Patent Registration

7) 1 % Exemption of Interest on Overdraft

Collateral Free Loans

9) Protection against Delayed Payments

10) Only MSME Units are registered on TReDS Platform

MSME Registration Fees

There are no fees charged for filling and submitting the MSME registration form by Government, there are lot of services where Govt. has Nil Fees. for example - GST Registration, PF Registration, ESIC Registration etc.

So now there are doubts as to why some portals charge fees for MSME or Udyam registration. Basically they charge professional fees to complete your application by legal expertise.

So if you do not know about NIC Code to get the necessary information about msme registration process, then you are advised to take the help of consultants who can guide you through the process successfully and provides Udyam Registration Certificate at the cheapest cost.