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About MSME
Micro, Small & Medium Enterprises are divided on the basis of Investment in Plant & Machinery or Equipments. These enterprises are basically divided into Two Categories i.e., 1) Manufacturing Enterprises 2) Service Enterprises. There are a numerous advantages given to the MSM Enterprises by the government. The enterprises are governed by Ministry of Micro, Small & Medium Enterprises as enamoured by The Micro, Small & Medium Enterprises Development Act, 2006. They are supported by many schemes such as Credit Support Schemes, Technology Upgradation & Quality Certification, Marketing Promotion Schemes, NSIC Schemes, and various others Entrepreneurship and Skill Development Programmes and Infrastructure Development Programmes. There are a 21 major industry groups in the Small sector which includes, Food Products, Chemical & Chemical Products, Metal Industries etc. The Registration under the said act can provide with many advantages as discussed above.
Categories of Enterprises
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Micro Enterprises
1) Investment in Plant & Machinery - Manufacturing Sector - Not more than 25 Lakhs.
2) Investment in Equipments - Service Sector - Not more than 10 Lakhs.
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Small Enterprises
1) Investment in Plant & Machinery - Manufacturing Sector - More than 25 Lakhs but does not exceed 5 Crores.
2) Investment in Equipments - Service Sector - More than 10 Lakhs but does not exceed 2 Crores -
Medium Enterprises
1) Investment in Plant & Machinery - Manufacturing Sector - More than 5 Crores but does not exceed 10 Crores.
2) Investment in Equipments - Service Sector - More than 2 Crores but does not exceed 5 Crores
Package for MSME Registration
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Premium
Benefits of MSME Registration
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Tax Subsidy
Government provides various income tax and capital gain rebates to the MSM Enterprises.
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Interest Subsidy
Government of India through SIDBI provides interest subsidies up to a rate of 7% to the MSM Enterprises, which further helps in reduced costs and increased profits.
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Loans without Collateral
The government of India and SIDBI provides Credit Guarantee Schemes to the MSM Enterprises which enables loans without any collateral security.
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Electricity Subsidy
The government also provides concessions in electricity bills to the MSM Enterprises.
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Government Tenders
There is a special preference given to the MSM Enterprises in procuring the government tenders.
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Credit Period Security on Sales
If MSME make sales to any other entity, then the purchaser has to honor the invoice within 45 days, otherwise he will have to interest @24% on value remaining unpaid.
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