The Government of India offers some schemes to the MSME’s as they lack in resources and Technology and need assistance from big companies. Below are the schemes offered by the Indian government to Micro, Small and Medium Enterprises.
1. Udyog Aadhaar memorandum
Provides ease in availing credit, loans, and subsidies from the government with mandatory Aadhaar card.
2. Zero Defect Zero Effect
Manufacturers can be eligible for certain rebates and concessions if they manufacture export goods that adhere to certain standards.
3. Quality Management Standards & Quality technology Tools
Gives SMEs opportunities to learn to maintain quality standards while implementing new technologies through various seminars, campaigns, activities etc.
4. Grievance Monitoring System
Offers a platform for business owners to check the status of their complaints and open them if dissatisfied with the outcome.
75% to 80% of the project cost can be financed by the government to help innovators with implementing new design, ideas or products.
6. Credit Linked Capital Subsidy Scheme
Capital subsidy for SMEs to upgrade obsolete technology and have better means to do their business.
7. Women Entrepreneurship
Only 14% Women amongst the total entrepreneurs in India. To enable women to start, manage and expand their business, the scheme provides capital, counselling, training and delivery techniques.
You might also like these
What Happens When You Default on a Business Loan? Plus, How to Avoid It
What Happens If You Default on An Unsecured Business Loan in India Every entrepreneur, at some point, considers or already has taken a business loan. Everyone has the best intentions of paying back the loan. However, due to situations like a sudden decline in sales, miscalculations, or other unforeseeable circumstances, your finances take a hit, …
Difference Between Working Capital Loan and Term Loan
This is a question that many businesses will face in their lifetime, sometimes even more than just once. The need for financial support may come up a lot when you’re in the business world, so you need to set your financial sources straight and know what’s your best option for getting the funds you need. …
How to Get a Small Business Loan for a Startup
Small Business Loan to Start a Business For a new entrepreneur, one of the biggest hurdles to resolve and overcome is the need for capital. Funds are critical to any business venture. Finding ways to raise money can sometimes become a full-time occupation for a business owner. A business loan can be a very important …