Any person can register under MSME. They can be a sole proprietor or a partnership firm or a LLP or Company or AOP etc. Hence company registration is not mandatory for MSME.
Following are the benefits of MSME registrations.
- Loan at subsidised rate
- Rebate in Intellectual property registrations
- Preference in Government tenders
- Protection against delayed payments
- Council for timely resolution of disputes
- The Credit Guarantee Fund Scheme for Micro and Small Enterprises
- Market Development Assistance Scheme for Micro, Small & Medium Enterprises
- Technology & Quality up gradation Support for MSMEs
- Government Subsidy for Small Business for Cold Chain
- Power tariff subsidies, excise exemption regulations, capital investment subsidies, and several other benefits
To know more about MSME read to know how MSME Registration in India will help you in your Business