If you’re a small business owner, you can truly benefit from the Udyam registration.
The Micro, Small and Medium Enterprises Development Act, offers special benefits to MSMEs engaged in manufacturing or services. To get these benefits, a business must be registered on the government’s MSME/Udyam portal. All central government ministries, departments and public-sector undertakings are required to procure at least 25% of their annual value of goods or services from such enterprises.
Here are 4 schemes you can take advantage of:
1. Prime Minister’s Employment Generation Programme: Under this program, our government offers subsidies ranging from 15-35% for projects in the non-farm manufacturing sector that cost up to ₹50 lakh, and projects in the non-farm service sector that cost up to ₹20 lakh, to set up self-employment ventures in rural and urban areas.
2. Credit Guarantee Scheme for Micro and Small Enterprises: Under this scheme, a credit guarantee is provided to micro and small enterprises for loans up to ₹5 crore without collateral or a third-party guarantee.
3. Entrepreneurship and Skill Development Programme: This programme aims to promote new enterprises, build capacity for existing MSMEs and inculcate an entrepreneurial culture. It applies to current as well as aspiring entrepreneurs.
4. International Cooperation Scheme: This scheme aims to help MSMEs enter the export market by facilitating their participation in international exhibitions, fairs, conferences and seminars. Under the scheme, the government covers expenditure on stalls, airfare, advertisements and so on up to certain specified limits.
Share this with your business owner friends, tell us in the comments if you have any questions and don’t forget to follow us for more!
#startup #startups #startupindia #business #funding #smallbusiness #smallbusinessowner