What is Micro, Small & Medium Enterprises (MSME)?

Micro, Small and Medium Enterprises (MSMEs) are defined as enterprises that meet the following criteria:

1. Investment in plant and machinery or equipment: Up to Rs. 20 crore for medium enterprises, up to Rs. 10 crore for small enterprises, and up to Rs. 1 crore for micro enterprises.
2. Annual turnover: Up to Rs. 250 crore for medium enterprises, up to Rs. 50 crore for small enterprises, and up to Rs. 5 crore for micro enterprises.

Benefits of MSME Registration

MSME registration offers numerous benefits to businesses, including:

1. Access to government schemes and subsidies: MSMEs are eligible for various government schemes and subsidies, such as financial assistance, tax benefits, and preferential procurement policies.
2. Easier access to credit: MSMEs can avail of easier and cheaper credit facilities from banks and financial institutions.
3. Protection of intellectual property rights (IPR): MSME registration helps protect the IPR of businesses, including trademarks, patents, and copyrights.
4. Facilitating exports: MSMEs can access export promotion schemes and assistance from the government.
5. Participation in government tenders and contracts: MSME registration enables businesses to participate in government tenders and contracts.
6. Dispute resolution mechanisms: MSME registration provides access to specialized dispute resolution mechanisms, such as MSME tribunals.