ADVANTAGES OF UDYAM CERTIFICATE
UDYAM Certificate previously known as UDYOG AADHAAR Registration, is a government initiative in India aimed at promoting and supporting small and micro-enterprises. Obtaining an UDYAM Certificate offers several advantages to small businesses and entrepreneurs:
Easy Registration Process:
UDYAM Certificate registration process is straightforward and can be completed online. It eliminates the need for complex paperwork and inflexible hurdles.
Access to Government Schemes:
In UDYAM Certification, small businesses become eligible for various government schemes, subsidies, and incentives aimed at promoting their growth and development.
Priority Lending:
Banks and financial institutions often give priority to businesses having UDYAM Certificate while considering loan applications. This can lead to more favourable loan terms access and increased access to capital.
Credit Guarantee Scheme:
UDYAM Certificate helps businesses avail of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGFTMSE) scheme, which provides collateral-free credit facilities for eligible small businesses.
Income Tax Exemptions:
Certain tax benefits and exemptions are available to businesses having UDYAM Certificate. These can include deductions under the Income Tax Act and GST benefits.
Subsidies and Rebates:
Various state and central government departments offer subsidies, rebates, and concessions to UDYAM registered businesses. These can vary depending on the industry and location.
Easier Bidding for Government Contracts:
Many government tenders and contracts are reserved for Micro and Small Enterprises (MSEs). Having an UDYAM Certificate can make it easier for your business to participate in such opportunities
Business Support:
UDYAM registered businesses may receive support and assistance from government agencies and bodies dedicated to the development of small and micro-enterprises.
