INTERNATIONAL M.S.M.E DAY
M.S.M.E DAY is Micro, Small and Medium-sized Enterprises Day.
WHAT IS MSME?
MSME is the ministry of micro,small and medium sized enterprises. It is the branch of the Government of India, which executes the formulation and administration of rules, regulations and laws related to the micro,small and medium sized enterprises in India.
It was founded in 2007. Its headquarter is in New Delhi. The Indian government gives financial support to the small enterprises for their business and the performance is studied for the period of 5 years. Government also provides insurance for their business.
PROBLEMS FACED BY M.S.M.Es IN INDIA:
- The MSMEs face several problems like:
- 1.Poor infrastructure
- 2.Access to Modern technology
- 3.Access to market
- 4.Lack of adequate capital
SCHEMES AND PROGRAMMES BY GOVERNMENT:
To overcome the problems of the entrepreneurs, The Ministry of Micro, Small and Medium sized Enterprises [MSME] is proposing several types of schemes and programmes. These are the following:
- 1.Cradit Guarantee Scheme
- 2.Cradit Linked Capital Subsidy Scheme
- 3.Cluster Development Programme
- 4.National Manufacturing Competitive Programme
TYPES OF BUSINESS COME UNDER MSME:
The nature of business which can be registered under MSME Act2006 are many,but here we have given below some of them:
- 1.X Ray Clinics
- 2.Beauty Parlours
- 3.Energy Efficient Pumps
- 4.Leather Apparels
- 5.Training and Educational Institutes
- 6.Natural Fragrance and Flavour
- 8.Photographic Lab
- 9.STD/ISD Booths
- 10.Loundary and Dry Cleaning
- 11.Engeneering and Fabrication
- 12.Micro Nutrients For Plants
- 13.Printing and Paper Products
- 14.Coil Industry
- 15.Industrial Testing Labs
CHALLENGES TO MSMEs:
The MSME has to face many challenges like:
- 1.Absence of timely banking finance
- 2.Limited capital and knowledge
- 3.Low production capacity
- 4.Ineffective market strategy
- 5.Non availability of skilled labour at affordable cost
- 6.Non availability of suitable technology
- 7.Constraints on modernisation and expansions
PROCESS FOR M.S.M.E REGISTRATIONS IN INDIA:
The procedure for availing MSME certification in India is as follows:
1. FILL THE FORM: The form is filled online and you have to fill the details asked in the form. The details asked are the PERSONAL DETAILS and ENTERPRISE DETAILS. In personal detail you will be asked for your Aadhaar Number details, your PAN details and your Bank details like your account number and IFSC Code etc. In enterprise details you will be asked for the Type of Organisation, Name of Enterprise, Location for the Plant, Major Activity,NIC Code that is National Industry Classification Code, and DIC that is your District Investment Centre.
2. SUBMIT THE FILLED FORM: The form will be submitted by clicking on the SUBMIT Button and an OTP is generated and sent to your Email address or Mobile number which is linked with your AADHAAR.
3. ENTER CAPTCHA BEFORE FINAL SUBMISSION: Before clicking on the final submission button you have to enter the CAPTCHA.
BENEFITS OF M.S.M.E REGISTRATIONS:
One of the best benefits of MSME Registrations is that the Government of India, Small Industry Development Bank of India and the Ministry of Micro,Small and Medium sized Enterprises initiates for a collateral free loan under the scheme of Credit Guarantee Trust Fund.
Second benefit is that the Indian Government provides Subsidy for industrial promotions. A 50 per cent subsidy is provided for patent registrations.
Third is the benefit of MSME registration is that the MSME registered entrepreneurs get a concession on electricity bills. They just have to submit the electricity bill with an application and a copy of the registration certificate given by the MSME.
The next benefit is that they get protection against the delayed payment.
The last but not the least benefit of MSME registration is that the entrepreneurs can claim the expenses for the reimbursement that were spent on ISO.
INVESTMENT LIMIT FOR MSME
- 1.FOR MICRO ENTERPRISES: Investment in plant and machinery is up to one crore and the turnover is up to five crores.
- 2.FOR SMALL ENTERPRISES: The investment in plant and machinery is more than one crore but up to ten crores. Turn over is up to fifty crores.
- 3.FOR MEDIUM ENTERPRISES: The investment in plant and machinery is more than ten crores but up to twenty crores. Turn over is up to hundred crores.
BANKS FOR M.S.M.E LOANS:
There are many banks all over the india. Every bank provides loans for your business but there comes a question that which bank is best for MSME loans. We have some of the best banks for MSMEs loans. Those banks are as follows:
- 1.State Bank Of India
- 2.HDFC Bank
- 3.Allahabad Bank
- 4.Central Bank Of India
- 5.ICICI Bank
- 6.Bajaj Finserv
- 7.Oriental Bank Of Commerce
- 8.Union Bank Of India
- 9.Indian Bank
THEMES OF M.S.M.E DAY
The theme for MSME day celebration is different for every year.
For the year 2018 the theme was ‘THE YOUTH DIMENSION’. This was dedicated to the youth and it covered the topics like Youth Entrepreneurship and Youth Employment.
The theme for the year 2019 was ‘BIG MONEY FOR SMALL BUSINESS’. This was dedicated to the small businessman and entrepreneur.
So here wishing you a Happy MSME Day. Hope you will use the chance for building your business from small and micro enterprises.