Small Scale Industries is an establishment that is included in the services of micro or small scale, providing services, manufacturing, and production. It is essential to the economy of India as they initiate employment and use local resources. Small Scale Industries such as candles, paper bags, xerox and printing, beauty parlors, t-shirt printing, photography, bakeries, school stationery, water bottles, leather belt, small toys, etc., are those that manufacture and provide services by producing a limited investment. The government of India offer scheme and services, and to boost these industries & use them, you should register your SSI.
The certificate of SSI is provided to units in the pre-operative period to assist them to secure working capital. When a corporation applies for provisional registration, it is given without any physical inspection.
A provisional certificate is legal for 5 years, and make sure that your firm is operational at that time.
If your firm is functioning for 5 years, then you can apply for a permanent certificate from the Ministry of MSMEs.
Given below are two types of Small-Scale Industries: -
|Micro||The investment in plant and machinery should not be above Rs. 25 lakhs.|
|Small||The investment in plant and machinery can be Rs. 25 or above but not exceed Rs. 5 crores.|
|Medium||The investment in plant and machinery can be Rs. 5 crores or above but not exceed Rs. 10 crores.|
|Micro||The investment in the equipment should not exceed Rs. 10 lakhs.|
|Small||The investment can be more than Rs. 10 lakhs but not exceed Rs. 2 crores.|
|Medium||The investment in the equipment can be more than Rs. 2 crores but not exceed Rs. 5 crores.|
Ownership: - Manufacturing businesses of small scale are generally operated by a sole proprietorship or sometimes partnership.
Flexibility: - As the units are relatively small in size, they can be easily adjustable to the changing environment.
Resources: - SSI is located in an area where resources are easily available. And this decreases the cost of transportation for the manufacture and utilization of resources.
Short-range: - The manufacturing industry of SSI does not function on a significant scale.
|Cotton textiles||Metal products||Leather products|
|Beverages and tobacco products||Non-metallic mineral products||Rubber and plastic products|
|Wool, Synthetic Fiber, silk textiles||Paper products and printing||Food products|
|Machinery and parts for electrical goods||Electrical machinery and parts||Miscellaneous manufacturing industries|
|Jute, hemp, and Mesta Textiles||Transport equipment and parts||Repair services|
|Basic metal industries||Hosiery and garments||Chemical products|
Therefore, knowing the facts about Small Scale Industry (SSI). Apply via financeseva for the best deals.
Also read: - What is MSME? Its Definition, Role, and Importance