What is MSME?
MSME or medium small or micro enterprises are the companies which are registered under SSI or MSME Act. After registration, the MSME enterprises can avail various benefits from schemes and subsidies provided by the government. Below are advantages of obtaining a MSME registration certificate in India.
Benefits of MSME Registration
Bank Loans without Guarantee
A MSME registered enterprise can avail bank loans without any guarantee. CGS for MSME was launched by Government of India for collateral free loans.
Subsidies on Patent Registration
MSME registered enterprises get 50% subsidy in patent registration fee.
Exemption on OD Interest Rate
MSME enterprises can avail 1% exemption in OD (overdraft) interest rate.
Industrial Promotion Subsidy
MSME enterprises are eligible for industrial promotion subsidy as prescribed by government.
Subsidies in Electricity Bills
MSME enterprises get concession in electricity bills by applying for concession in electricity department along with msme certificate.
Concession in ISO Registration Charges
MSME enterprises can avail concession in iso registration charges.