You must have heard about MSME and Udyog Aadhar Most of them must be confused with this two terms. Some of them assume they both are the same and some may think they both are different types of registrations. So here in this article let us understand whether the Udyog Aadhar and MSME are the same.
Is Udyog Aadhar and MSME Registration same?
MSME Registration is an optional Registration under the MSMED Act that provides Micro, Small and Medium-sized enterprises with a host of benefits and access to subsidies and schemes.
No, MSME registration is now not converted to Udyog Aadhar registration. The Udyog Aadhar Registration is merely an easier way to acquire MSME registration.
Udyog Aadhar Registration is the online method of Acquiring MSME registration. You get the 12 digit Udyog Aadhar Number for your Micro, Small or Medium Scale Industry and you have MSME registration in your hands. Therefore, not converted, but you can say that Udyog Aadhar Registration is a new way to get your MSME registered.
The idea behind introducing Udyog Aadhar was to simplify the procedural format that business owners had to go through in order to register their business under Micro Small Medium Enterprise or MSME. Before the introduction of Udyog Aadhar, the procedural format for the same was quite hectic and time-consuming bureaucratic process that used to require handling of lots of paperwork. However, with the introduction of Udyog Aadhaar, things have changed and to some extent, have improved for medium, small and micro-enterprises.
If you own a medium, small or micro-enterprise and you haven’t registered your MSME yet, you should know that on registering your MSME via UAM (Udyog Aadhar Memorandum), you will be liable to enjoy numerous benefits.
Before the introduction of the UAM system, there used to be a former system of EM-I/II (Entrepreneur Memorandum). Under this system, entrepreneurs used to opt for a heterogeneous system.
Some of them used to rely on the national portal, and some of the states had their own individual portal for carrying out MSME registration. Additionally, there were a few who used to rely on manual paperwork.
Here in this article, we have understood the difference between Udyog Aadhar and MSME, it will be surely useful for you to grow your business. If you’re wondering to get MSME registration online then you should visit the MSME registration portal and complete the MSME registration process in bliss.
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