Here is a detailed description about MSME and its benefits. One will get all the information about it and can take decision whether they want to get registered themselves under this MSME scheme. All the benefits are listed below
1. Your loans do not need to be supported by collateral.
2. A subsidy of 50% on trademark registration.
3. A huge subsidy of 50% on your patent registration.
4. An MSME wishes to improve their equipment; they have an access to industrial promotion subsidy.
5. They also may enjoy concession in electricity bills.
6. An MSME is also allowed to ask for a reimbursement of ISO certification charges.
7. A benefit of 1% on the over draft interest.
8. You can get protected against delayed payments. A buyer is expected to make payment for the good or services within 15 days of the purchase or the date in agreement (which can’t be more than 45 days). If the buyer delays, he has to pay compound interest which is 3 times the rate notified by RBI.
9. Along with the above there are several benefits from income tax too.
