Proprietorship is a very popular form of business in India as it is simple and less expensive. A sole proprietor intending to scale up his/her business and access MSME benefits must get Udyam Registration of the proprietorship. Besides the accreditation of a registration, a range of government schemes, subsidies, and credit schemes are also opened up.

This blog will answer how to register a proprietorship firm under Udyam, Udyam proprietorship registration fees, and the documents needed to register MSME proprietorship.

udyam registration for proprietorship

What is the importance of Udyam Registration to proprietorship business establishments?

The Ministry of Micro, Small, and Medium Enterprises (MSME) proposed Udyam Registration, which represents the simplification of the registration process for small businesses in India. A proprietorship firm is not a juridical entity distinct from its owner and as such, registration under Udyam furnishes:

  • Legal Identity to your business.
  • Access to MSME Schemes and subsidies and government tenders.
  • Collateral free advances backed up under the Credit Guarantee Fund Scheme.
  • Insurance against slow payment by customers.

You can miss on these vital benefits without Udyam Registration.

How to Register a Proprietorship Firm under Udyam?

Curious how to make proprietorship firm registration, in order to be eligible to MSME, well, there is the way to do it in a few steps:

  • Access the Official Portal - Go to www.udyam-registration.org
  • Provide Aadhaar Details - In case of proprietorship the Aadhaar number of the owner is required.
  • Enter Business Details - Insert in your company name, company address, bank particulars and the type of activity being done (manufacturing or service).
  • Select NIC Code - The National Industrial Classification code will contain NIC codes depending on the business activity.
  • Enter Turnover and Investment - Enter your turnover and investment on an annual basis to identify your business as Micro, Small, or Medium.
  • Verification and OTP - Confirm your information by confirming your information by an OTP is sent to your Aadhaar linked cell phone.
  • Payment Involved - Pay MSME registration fees of proprietorship firm (minor amount as part of application processing fee).
  • Issuing Udyam Certificate - Once you pass the verification, you will receive a Udyam Registration Certificate with a unique Udyam Registration Number (URN).

Proprietorship firm SME Registration fee

When it comes to the question of MSME registration fees, many entrepreneurs have questions. The positive side of this is that there is no fee charged on the part of the government regarding registration. But when you employ the services of a professional document preparation service provider this can be charged a minimal processing fee to prepare and support the application.

You can open https://udyam-registration.org

We offer complete support ensuring hassle free registration at a minimum service charge.

The documents needed by MSME Registration for Proprietorship

Make sure to have the following documents at hand when you apply to Udyam Registration:

  • Copy of Aadhaar Card of the proprietor (mandatory)
  • PAN Card (related with Aadhaar)
  • Account details of your bank (passbook or cancelled cheque)
  • Business Address Proof (rent agreement or electricity bill)
  • NIC Code & Business Details
  • Multi-Level Business Network Number (MLBN | if any)

Note: No paperwork is to be submitted as all the process is online, and Aadhaar-based.

Advantages of Udyam Registration to Proprietorship Businesses

After registration of your proprietorship firm, you have a variety of advantages, such as:

  • Low interest, easy business loans.
  • Minority Government tenders set aside to MSMEs.
  • Tax holidays, deductions and subsidies on machinery and upgrades.
  • Safety under MSME Act against delayed payments

Conclusion

It is a very easy yet an important step in growth and credibility to register your proprietorship under Udyam. It gives its robust base to grow business, gain access to government plans as well as enjoy the financial facilitation.

In case you wonder how to register proprietorship firm visit www.udyam-registration.org

Get professional assistance in finishing the procedure fast and accurately.