Are you an MSME and looking for growth opportunities? Are you struggling financially to grow and expand your business? Are you aware of the government policies that can help your business to get to new heights of success? Do you want to apply for business loan online as a small and medium-sized business? As small-scale businesses, it is common to face challenges for sustainable growth and making profits as they do not have anyone to back them up financially. Micro, small, and medium-sized enterprises contribute heavily to the GDP of our country. In this blog, you will learn about the Udyam registration certificate and how can you apply for it online. MSMEs can avail of numerous benefits after applying for the Udyam certificate as it has many benefits. You will also get to know what are the required documents for registration of the Udyam certificate. You can avail of its benefits when you want to calculate interest rates with Business loan EMI Calculator..
Why Udyam Registration Certificate was Introduced?
In order to boost the growth of the MSME sector in the Indian economy, the government has put all its efforts into introducing the Udyam registration certificate. From 1st July 2020, Udyam registration has become an important certification for all MSMEs. It was introduced to classify and recognize MSMEs in India and provide them with benefits for their sustainable growth. One of the primary benefits of this certificate is that you can apply for business loans online easily at lower interest rates. Small-scale businesses contribute heavily to the gross domestic product of India and to help them reach their potential, the Indian government took the initiative to introduce the Udyam registration.
What are the Benefits of a Udyam Certificate?
One of the most important benefits of Udyam registration is that you can easily apply for business loan online. Some of the other benefits you can avail of are:
- Udyam certificate qualifies you to become eligible to participate in government tenders.
- If you have an MSME registration certificate, banks and financial institutions approach you to apply for business loan online easily and quickly.
- You can avail of government approval, license, or business registration, if you have Udyam certificate.
- The government also provides subsidies, grants, and incentives to promote the growth and innovation of small and medium-sized businesses.
- Business owners registered with Udyam can also participate in trade fairs, exhibitions, and other promotional events sponsored by the government.
- Registering for Udyam can provide you with several benefits related to taxation. The government offers tax ease, which can help simplify your tax processes. You can also become eligible for various tax rebates, which can help you save money on your taxes. These benefits are designed to make the process of paying taxes more convenient and cost-effective for businesses.
How to Register Online for Udyam Certificate?
Udyam registration certificate can allow business owners to apply for business loan online, easily and quickly. If you want to calculate your business loan EMIs, you can use a business loan EMI calculator. If you want to register online for a Udyam certificate, you can follow these simple steps:
Step 1: Go to the official website of Udyam registration and click on the “New Registration” tab.
Step 2: Fill in your personal details such as your Aadhaar number and the business owner’s name in the provided fields. You will then receive an OTP to verify your details.
Step 3: Next, you will be asked to provide your bank account details and the PAN number that is registered with your business.
Step 4: Select your business type.
Step 5: Before submitting your application, make sure to review all the information you’ve entered. Once you submit your application, you will receive a “Thank You” message, as well as your registration number, via email and text message.
Required Documents for Udyam Registration Certificate
Here is the list of documents that you should prepare if you want to register for Udyam certificate and apply for business loan online.
- Your Aadhaar card
- Voter ID card
- Bank account details of the business
- PAN card registered with the company
- PAN card of partners
- Employee details
- NISC code
- Documents authenticating the business type
You have learned about Udyam registration certificate and how can you apply for it online. MSMEs can avail of numerous benefits after applying for the Udyam certificate as it has many benefits. You will also get to know what are the required documents for registration of Udyam certificate. You can avail of its benefits when you want to apply for business loan online. The Indian government is continuously applying efforts to boost the growth and sustainability of small and medium businesses.