Earlier, MSMEs were registered under Udyam Registration. But now, the government has simplified the process and launched the Udyam Registration portal. The good news is that you can complete the entire registration process online, and if you follow the correct steps, you can get Udyam Registration in just one day and at a low cost.
This guide will help you understand everything about Udyam Registration, its benefits, who needs it, the required documents, and how you can get it quickly without spending a lot of money.
What is Udyam Registration?
Udyam Registration is a government-issued certificate that recognizes your business as a Micro, Small, or Medium Enterprise. It provides you with a unique identification number (Udyam Registration Number) and a certificate that can be used for getting various government schemes and benefits.
It is a mandatory registration for all MSMEs who wish to avail of government incentives such as subsidies, bank loans at low-interest rates, priority in government tenders, and protection from delayed payments.
Benefits of Udyam Registration
Here are some of the key benefits of registering your business under Udyam:
1. Easy Access to Loans
Banks and financial institutions offer collateral-free loans to MSMEs with Udyam registration under government credit guarantee schemes.
2. Lower Interest Rates
MSMEs can enjoy lower interest rates on loans compared to regular businesses.
3. Subsidies and Grants
The government offers subsidies for industrial promotion, technology upgrades, and quality improvement to registered MSMEs.
4. Priority in Government Tenders
Udyam-registered businesses get preference in public procurement and government tenders, often without needing prior experience.
5. Protection from Payment Delays
Under MSME laws, large buyers must make payments to MSMEs within 45 days or face legal penalties.
6. ISO Certification and Patent Subsidy
You can get financial support for ISO certification, patents, and barcodes if you are Udyam registered.
Who Can Apply for Udyam Registration?
Any type of business can apply, including:
- Proprietorship
- Partnership Firm
- Private Limited Company
- One Person Company
- Limited Liability Partnership (LLP)
- Hindu Undivided Family (HUF)
- Co-operative Societies
- Trusts
- Any other business entity
Classification of MSMEs (As per Investment and Turnover)
The classification of businesses as micro, small, or medium depends on investment in plant and machinery or equipment and annual turnover:
- Micro Enterprises: Investment up to Rs. 2.5 crore and turnover up to Rs 10 crore.
- Small Enterprises: Investment up to Rs. 25 crore and turnover up to Rs. 100 crore.
- Medium Enterprises: Investment up to Rs 125 crore and turnover up to Rs 500 crore.
Documents Required for Udyam Registration
Udyam registration is simple because no physical documents need to be submitted. However, you should keep the following details ready:
1. Aadhaar Number
- For proprietors: Aadhaar of the business owner
- For partnership firms: Aadhaar of the managing partner
- For companies or LLPs: Aadhaar of the authorized signatory
2. PAN Number
- PAN of the business or the owner (mandatory)
3. GST Number (if applicable)
If your business is registered under GST, you need to provide your GSTIN.
4. Bank Account Details
- Name of bank
- Account number
- IFSC code
5. Business Information
- Business name
- Type of organization
- Official address
- Email ID and phone number
- Number of employees
- Investment and turnover figures
Step-by-Step Guide: How to Get Udyam Registration in One Day
Let us now walk through the complete process to get Udyam registration in just one day. Follow these steps carefully:
- Visit the Udyam Portal: Open your browser's official Udyam Registration portal.
- Fill in Business Details: Enter essential details like your business name, type, address, and bank account information. Ensure accuracy in the data.
- Review and Submit the Form: Review the information to confirm it's correct. After reviewing, apply.
- Pay the Registration Fee: Select your payment method and complete the registration payment.
- Receive OTP on Mobile: An OTP will be sent to the mobile number linked with your Aadhaar card.
- Enter OTP: Input the OTP sent to your phone to verify your identity.
- Complete Registration: Once your details are confirmed, your registration will be completed.
- Receive Your Udyam Certificate: Once verified, your Udyam Registration certificate will be generated and sent directly to your email.
How to Get It at Low Cost
The Udyam Registration process is free if you do it yourself through the official website. You do not need to pay any consultant or agent if you are confident about your business details.
However, if you still wish to get help, here are a few tips to keep the cost low:
1. Use Government Portal Only
Never go to private websites that charge ₹1000 or more. The government portal is completely free and easy to use.
2. Seek Local Help if Needed
If you are not comfortable using the internet or filling online forms, you can approach a local Common Service Center (CSC). They charge a small fee (usually ₹50 to ₹100) for assisting you with the online application.
3. Avoid Middlemen
Some agents may charge high fees, promising “express registration” or “premium service.” You don’t need them. The normal online process is already fast and can be completed in one day if all details are correct.
Note: Now easily update udyam certificate through the udyam portal
Conclusion
Udyam Registration is a simple and free process that can bring many advantages to your small business. It provides official recognition as an MSME and opens doors to government benefits like loans, subsidies, tax exemptions, and protection against late payments.
The best part is that you can complete the registration online in just one day if you follow the right steps. By visiting the official Udyam portal, entering accurate business details, and submitting your application correctly, you can get your Udyam Certificate without any delay or high cost.
Start your journey toward business growth and government support today by getting your Udyam Registration done fast, easy, and free.