If you are planning to start a business, you are welcoming a lot of opportunities. But there are few things you need to comply with that unlock your full potential of the business.
One of the things that are mandatory for the new business is MSME registration. From the basic level to the advanced one, we will give you every detail of that. Let’s dive right in.
MSME is a micro small and medium enterprise. MSME is a qualification of investment of the Enterprise in terms of its machinery or equipment. For manufacturing enterprises, investment criteria are if you have a capital of less than 10 lakh rupees, then you are a micro firm.
And if you are having less than 2 crore capital in your business then will be considered a small manufacturing Enterprise. And if your business is having less than 5 crore capital and then your business will be considered as a medium manufacturing Enterprise.
The above limit is set category wise. You can also opt for the composition where investment and an annual turnover of your business will be considered to classify which type of business you have under MSME.
What are the benefits of getting MSME registration?