I have my own small business but I haven’t registered it yet.
Although it has not been made mandatory, MSME registration has many benefits.
Here are those benefits:
- If the business is registered, a 50% subsidy can be availed on a patent of any products and services.
- Exemption of 1% on the interest can be availed with an overdraft facility with the banks.
- With the help of scheme Capital Aid for Technological Upgradation, the MSMEs can get a loan at affordable interest rates.
- MSMEs can also contact NBFCs for unsecured loans.
- You can also get a concession in the electricity bills if your MSME is registered.
- Reimbursement of ISO certification expenses can also be claimed with MSME registration.