MSMEs have the potential and power to make or break an economy. One of the pillars of Indian economy consists of the different Micro, Small and Medium Enterprises. They are the backbone of our economy and they have a huge part in the growth of the economy. Keeping this in mind, Indian government has introduced various schemes and incentives to promote these MSMEs through the Micro, Small and Medium Enterprises Development Act. Indian MSMEs have beenenjoying benefits of these schemes and having a substantial growth in the last few years.
Government has made it mandatoryfor all the MSMEs in India to register under the MSME Act and get an MSME certificate. This certificate allows business owners to make use of the government schemes from different government departments. If you are a small business owner, you must register and get an MSME certificate to grow your business.
Here are some of the benefits of the MSME certificate:
- Credit Guarantee Scheme (CGS): It provides guarantee of credit assistance from CGTMSE fund which is set up for manufacturing and services enterprises.
- Single Point Registration Scheme (SPRS): It gives exemption from payment of Earnest Money Deposit (EMD).
- Assistance in Market Development: It helps enterprises in doing business in the international markets. Government helps ease exports of the goods and services.
- Coir UdyamiYojana: It helps Coir Units by giving credit up to 25% of project cost.
- Credit Linked Capital Subsidy for Technology Upgrade: It helps enterprises by giving access to technology providing upfront capital.
- Infrastructure Development Scheme: It gives enterprises an access to software parks and helps them lease spaces. It also helps them hold exhibitions to capture the market.
- Raw Material Assistance (by NSIC): It helps enterprises by providingfinance for processing raw material in production.
- Revamped Scheme of Fund for Regeneration of Traditional Industries (SFURTI): It helps startups get long term sustainability byproviding easy access to tools and equipment.
There are numerous benefits of getting your enterprise registered and get MSME certificate. It is quite evidentto see that MSME registration is very important. It is a boon for small business owners. The government is helping them grow because it is ultimately going to help our economy. Do not fall behind in getting your enterprise’s MSME certificate. Contact National Tenders for registering your business and open up the door to new opportunities to grow your business like never before.