Udyog Aadhaar is nothing but Aadhaar for a person’s business. It is a 12 digit unique Government identification number that is provided by the Ministry of MSME for all sorts of small and medium businesses.
A big business company has the power and is often recognized officially as a business, whereas this is not the case for sole proprietor business owners.
For such people, it is advisable to get a Udyog Aadhaar. Since these types of people do not have official government recognition, the Udyog
Aadhaar helps them to get an identity that is unique and also get a registration that is officially validated by the government of India making the existence of the concerned business legal.
The Udyog Aadhaar Registration Online not only helps to make a business recognised but also brings forth a lot of other additional benefits. We shall examine them in the following section.
Benefits of Registering Udyog Aadhaar for Your Business
Registering and receiving a Udyog Aadhaar for one’s business brings forth a lot of benefits.
The below benefits that are stated are the various services that are offered by the Ministry of MSME that helps the small enterprises for protection, growth and also development. These benefits provided to the Udyog Adhaar holders are always advantageous and extremely useful.
These benefits that one receives after and from Udyog Aadhaar Registration Online are as follows.
- It protects any form of delay during the payment procedure.
- It also brings faster and more meaningful resolution to some forms of disputes.
- It also allows the holder to take loans from banks without the need for providing collateral.
- It also brings forth some sort of consideration for participation in the international trade fair.
- It brings forth several of the octroi benefits.
- It brings a slight decrease in stamp duty and registration fees.
- It also allows a barcode registration subsidy.
- It brings subsidy on NSIC Performance and other credit ratings as well.
- It allows a reduction in the interest rate from banks.
- It allows exemptions along with applying for government traders.
- Udyog Aadhaar Registration Online brings about 15 per cent subsidy under different schemes for technology upgrades.
- It also brings several different concessions in electricity bills.
- It also allows an increase in the eligibility of loan limit, i.e. from Rs. 25 lakh to Rs 50 lakh.
- It brings reimbursement of the payment made for obtaining ISO certification.
- It makes the holder eligible for IPS subsidy.
- It raises the extent of guarantee cover from about 75% to 80%.
- It makes it easier to register and get approved to obtain a license.
- It allows the holder to make reservations of products for exclusive manufacturing by MSME.
- It allows the holder to excise exemption schemes.
- It also brings 50% subsidy for patent registration.
Udyog Aadhaar Registration Online is an important government recognition method that gives small sole proprietors the chance to get government recognition. This Udyog Aadhaar is not only helping to make one’s business-government recognised but also brings a large variety of benefits.
Here in this article, we talked about what does it mean to have a Udyog Aadhaar and what all benefits come from it.