The Government Provides Special benefit to small business in the form subsidiary and incentive. Bank give loans at concessional rates to set up these business. The small business need to register under the Micro, Small and Medium Enterprises.
If a business is registered under the MSMEs act, it can avail several benefits like cheaper bank loans, tax benefits, preference during the tender process, and access to various schemes and incentives of the government.
The government has simplified the registration process for micro, small and medium enterprises (MSMEs) and they will now only need to furnish PAN and Aadhaar to register.
Documents Required for MSME Registration: