For business owners in India, Udyam registration (UR) offers a quick and simple online process to avail of government benefits and subsidies. However, to ensure the authenticity of their Udyam registration certificate, they need to follow the Udyam verification process.
Fortunately, the Udyam verification process is easy and can be completed online. By verifying their Udyam registration number and details provided in the certificate, business owners can confirm the accuracy of the information provided during the registration process.
This blog aims to guide business owners through the Udyam verification process and provide valuable information about the benefits of Udyam registration. By the end of this blog, readers will clearly understand how to verify their Udyam registration certificate and take advantage of the government benefits and subsidies available to them.
So, for all the business owners in India, this blog is a must-read to ensure the authenticity of their Udyam registration certificate and make the most of the benefits offered by the government. Let’s explore the world of Udyam verification and registration all together!
What exactly is “Udyam Registration”?
Udyam registration is a procedure that allows individuals who wish to form businesses to register their businesses. Here are some important aspects of this process:
- Upon completion of the registration procedure, individuals receive a Udyam certificate as evidence of registration.
- Udyam registration was initiated in 2020 to foster an entrepreneurial spirit and support India’s MSMEs (micro, small, and medium-sized businesses).
- The registration process for Udyam is noticeably less complicated than registering for any other kind of business. There is no requirement to present any papers, certifications, evidence, or other documentation.
- The Udyam registration process is entirely free, so there is no need to pay any registration fees.
Overall, registering your business with Udyam is a straightforward, cost-effective process that provides official documentation of your company’s registration. These changes have made it easier for individuals to start their businesses and contribute to the growth of the Indian economy.
Why Should One Register for Udyam?
Completing Udyam registration has many benefits, making it a worthwhile process for individuals wishing to establish a business. Why you should consider completing Udyam registration, here are the reasons:
- No fees: Unlike other methods of registering a business that involves paying fees, Udyam registration is completely free. Additionally, you are not required to pay any fees once the certificate expires.
- Fully online: The registration process can be completed online through the official portal at https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm. You can provide scanned copies or digital copies of any required documentation.
- Simpler licensing: Once you have a Udyam certificate, obtaining additional licenses for your business becomes easier. The process is also simpler because the government has already verified your business.
- Increased creditworthiness: Your business’s creditworthiness increases once you have applied for Udyam registration. It can make applying for business loans or other tenders and applications easier.
- Reduced cost: Udyam registration can also make your business eligible for reduced fees when filing patents or copyrights.
Overall, completing Udyam registration is a simple and cost-effective way to establish your business and gain access to various benefits and opportunities that can contribute to the growth and success of your business.
How to do Udyam Verification with Udyam Aadhaar Verification APIs
Udyam Aadhaar Verification is a critical process for businesses in India to avail of various government schemes and benefits. Fortunately, the process has become more manageable using Udyam Aadhaar Verification APIs. Here is a step-by-step process on how Udyam Aadhaar Verification APIs simplify the verification process:
- Provide Udyam Aadhaar Number: To initiate the process of Udyam Aadhaar Verification, businesses need to provide their unique 12-digit Udyam Aadhaar Number assigned by the government of India to Micro, Small and Medium Enterprises (MSMEs).
- Enable Customers or Partner Businesses to Enter Udyam Aadhaar Numbers: Businesses can enable their customers or partner businesses to provide their Udyam Aadhaar Numbers directly in place of the document, making the verification process simpler and quicker.
- Get Verified Udyam Details: The Udyam Aadhaar Verification API verfies the validity of the Udyam Aadhaar Memorandum, verifies all the business data associated with the Udyam Aadhaar Number and returns MSME Business Details from the Udyam Verification portal.
- Access Verified Enterprise Details: The Udyam Aadhaar Verification API provides access to verified business details such as Enterprise Name, Enterprise Type, Major Activity, Registered Address, Enterprise Plant Details, Registration Date, Mobile Number, Email Id, and NIC Codes related to the business.
API based verification fastracks the business verification process while maintaining accuracy.
The Importance of Udyam Registration for MSMEs in India
Udyam registration provides various utilities for businesses seeking government benefits and subsidies. Here are some ways in which Udyam registration can be beneficial:
- Verifying businesses/entities with a high risk of fraud becomes paramount in banking, finance, and retail. Udyam certificate verification helps lending institutions validate the authenticity of enterprises and reduce the risks associated with financial and reputational damage.
- By verifying Udyam registration, lending institutions can make profitable deals and prevent unreliable borrowers from damaging their financial standing.
Merchant/Business Partner Onboarding:
- E-commerce or aggregator companies must onboard MSME merchants or entities on their platforms. Udyam Aadhaar verification assures businesses that they are dealing with a genuine business partner that would not cause unforeseen risks or threats in the future.
- By ensuring that their business partners are registered with Udyam, e-commerce or aggregator companies can reduce the risks of dealing with fraudulent businesses and protect their reputations.
Udyam verification is vital for the growth of MSMEs in India. Udyam Registration assigns a unique identification number to businesses, facilitating access to government schemes and benefits. Udyam Aadhaar Verification APIs simplify the process, allowing businesses to focus on growth without paperwork.
Udyam Registration not only provides access to loans, subsidies, and other government schemes, but also helps MSMEs establish partnerships with ease. As the MSME sector continues to grow, Udyam Verification and Registration will remain essential in supporting and promoting business growth in India.