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How Can Udyog Aadhaar Benefit Small-Scale Businesses?

We start by understanding how essential is Udyog Aadhaar Registration for Small Scale Businesses is and the significance of the Udyog Aadhaar Memorandum. Then we share a list of Benefits of Udyog Aadhaar Registration. Along with this, let's also mention: How to print or download Udyog Aadhaar / MSME registration certificate online.

By 30 June 2023, PAN must be linked to Aadhaar. Otherwise, it will become inoperable on the 1st July 2023.

The micro, small, and medium enterprises in India play a crucial role in developing the Indian economy. The All India Management Association (AIMA) has stated that the MSMEs’ contribution to India’s Gross domestic product will go up to 40% by FY-2025. Keeping in mind the importance of such micro, small, and medium enterprises, the Government of India has developed the Udhyog Aadhar Facility to promote the growth of MSMEs in India.

Udyog Adhar is an identification system that is explicitly launched for such businesses. The Ministry of Micro, Small, and Medium Enterprises launched this facility in 2015. Udyog Adhar is a certificate with a 12-digit registration number similar to the Adhar card. By using a Udyog Aadhar Card, small businesses will be able to maximise the benefits of being small and medium-sized businesses in India. As of 2022, the Udyog Aadhar Registration has been migrated to Udyam Registration.

What is the Importance of Udyog Aadhar Registration for Small-scale Businesses?

The Udyog Adhar was launched to ease the Small Scale Industries (SSI) or Micro, Small, and Medium Enterprises (MSMEs) registration process. Businesses with a Udyog Aadhar Certificate can avail themselves of the benefits of various government schemes, subsidiaries, easy loan approvals, etc. However, to avail of the benefits of Udyog Adhar registration, the SSIs or MSMEs have to migrate to Udyam Registration. Otherwise, the businesses will have to re-register under the Udyam Registration Portal.

What is the Udyog Aadhar Memorandum?

The registration form that certifies the existence of the Udyog Aadhar Certificate owner is called the Udyog Aadhaar Memorandum. It carries all the necessary information of the respective Udyog Aadhar Certificate owner, such as the business owner’s Aadhar card details, Bank Account details, etc. The businesses need not pay any fees for registering the Udyog Aadhar Memorandum. The Udyog Aadhar Memorandum is called a self-declaration form. Hence, there is no need to support the form with other documents. However, in extreme cases, the central or the state authorities request some documentation in the form of proof.

Know more about Udyam Registration Online

What are the Benefits of Udyog Aadhar Registration?

One of the significant advantages of the Udyog Aadhar Certificate is it reduces the cost of starting a business. However, getting a Certificate for all the SSIs has many benefits. Some of them are discussed below:

  • It provides SSIs up to 50% of grants on patent registration.
  • SSIs and MSMEs can easily get bank loans at lower interest rates.
  • Getting licences or registering for different businesses becomes more accessible with the Udyog Aadhar Certificate.
  • The Certificate helps SSIs and MSMEs get tax rebates and concessions.
  • The certificate helps SSIs and MSMEs get concessions for all the other utility payments such as registration charges, electricity bills, reimbursement of the ISO certification, etc.
  • It helps businesses in getting various government subsidies quickly.
  • SSIs or MSMEs get rebates on tariffs.
  • Small scale industries get financial assistance for participating in Foreign expos.
  • All these small businesses also enjoy the benefits of extended credit facilities, industry extensional support, etc.
  • All the SSIs or MSMEs get financial assistance in marketing, capital, excise exemption, etc.

Small businesses can significantly develop their respective fields with all such benefits provided to the SSIs or MSMEs. Apart from that, the registration process for the Udyog Aadhar Certificate is hassle-free and cost-free.

Udyog Aadhar Registration Process

 It is now known as Udyam Aadhar registration, which has effect from 1st July 2020. Udyog Aadhar Certificate registration is a zero-fee registration process. The registration process for getting your Udyog Aadhar number is entirely online. To register for the same, you need to follow the steps that are given below:

  • Visit the official website, which is the Udyam Registration Portal.
  • Select the option if you want to make a new registration or re-register or migrate to Udyam Aadhar.
  • After selecting the respective option, you will be landed on the Udyam Aadhar Registration form.
  • After filling up all the details, you will be sent a verification code.
  • Once everything is verified, you will receive your application reference number via email.
  • To register for the same, businesses need to provide basic information such as the owner’s Aadhar Card number, address, bank details, industry name, etc.

How to Print or Download Udyog Aadhaar / MSME Registration Certificate Online?

To print or download the Udyog Aadhar Certificate or the MSME Certificate, you need to follow the steps that are given below:

  • First of all, enterprises need to enter their 12-digit Udyog Aadhar number.
  • To complete the verification process, the enterprises need to add the respective mobile number or email id and verify it with the verification code (One Time Password).
  • After completing the entire verification process, the enterprises must check all their information in the Udyog Aadhar Certificate data.
  • After ensuring all the data is correct, the enterprises can print or download the Udyog Aadhar Certificate data on the respective page.

Key Takeaways

The Government of India started the concept of the Udyog Aadhar Certificate or Udyam Aadhar Certificate in 2015. It was undertaken to boost the growth of all the small-scale industries (SSIs) or micro, small, and medium enterprises (MSMEs). After undergoing the registration for the same, all the small businesses get various benefits in subsidies, tax exemptions, loans at a lower rate, loan waivers, whole or partial release of various utility bills, and many other beneficial schemes. Hence, if you are a small business owner under SSIs or MSMEs, register for your Udyog Aadhar Certificate now!

Vakilsearch is a platform that helps small businesses and enterprises register, fill accounts, documents, etc. If you want your Udyog Aadhar registration: process to go smoothly without causing any discrepancies, you can reach us for the same. Our team will collect all the required information to undergo the registration process and help you get your Udyog Aadhar Certificate quickly. Visit the website today!

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