Should I register my MSME?Are there some benefits of doing so?

#1

I have my own small business but I haven’t registered it yet.

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#2

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.
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