Udyog Aadhar (also called as Aadhar for business) is highly advisable for sole proprietors who don’t have an official government recognition as it helps a sole proprietor to get a unique identity and official recognition.
Other types of business entities have an official recognition but they can register for Udyog Aadhar to avail the other benefits such as:
| Protection against delay in payment. | Fast resolution of disputes |
| Collateral free loans from banks. | Waiver of stamp duty and registration fees. |
| Barcode and registration subsidy. | 50% subsidy for Patent registration |
| 50% subsidy for Trademark registration | Reduce the rate of interest from bank |
| Subsidy on NSIC | Counter guarantee from GOI through CGST |
| Concession in electricity bills | 1 % concession in interest on bank OD |
| Eligible for IPS subsidy | Preference in the allocation of government tenders. |
The Micro Small and Medium Enterprises Development Act,2006 makes it compulsory for MSME to register themselves with the government and to obtain Udyog Aadhar and to avail benefits.
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