Udyam Registration is an important identification document for micro, small, and medium enterprises in India. It not only gives the business recognition by the government but also opens up many scheme opportunities and benefits. At the same time, as the business grows or changes, certain information updates shall be made.
We shall In this article discuss in great detail how to update Udyam registration details, why it is important, and under what circumstances.
Why is it required to update the Udyam registration?
Every business changes with time, either in the manner of incorporating more products, altering the number of employees, or increasing business turnover. If these are not updated from the old ones, then several problems might arise in the near future.
For example:
- Inaccurate details may pose a problem when applying for a bank loan or government subsidy.
- For certain schemes, the correct category (Micro, Small, or Medium) must be kept updated.
- The new Udyam data report contains outdated information that does not reflect your actual status.
Therefore, updating your Udyam registration information is a sign of being a responsible business owner.
What information can be updated?
You can modify various types of information on the Udyam Registration portal. The main ones are:
- Business name or form: If you have changed your business name or changed from a sole proprietorship to a partnership.
- Business address: The new business address needs to be filled in.
- Bank details: You can add information about a new account or branch.
- Number of employees: If there is a change in the number of employees, update it.
- Annual turnover & investment: This is the main reason for changing the MSME category.
- Email ID or mobile number: It is always essential to have an active email address and a mobile number on hand for OTP or notifications.
- Business Activities: If you introduce any new product or service, add that too.
Process to Update Udyam Registration Details
The process for updating Udyam Registration details on the Udyam Portal is quite simple. You can easily modify the information by following these steps:
- Go to the Udyam Portal:
- Go to the official website of Udyam registration.
- Click on the option “Update Udyam Registration”:
- This option will appear on the home page; click on it.
- Enter your Udyam Registration Number and mobile number:
- In the Edit Udyam form, you have to enter the Applicant’s name, mobile number, Udyam registration number, etc.
- After that, choose the option between mobile number and email ID where you want to receive OTP. Perform the verification using OTP.
- Modify Information:
- You can edit your business details now in the given dialog box. Write down what you want to make changes to.
- Save and Submit:
- After the changes are made, click the “Submit” button.
- Re-verification, if needed:
- Some changes may require re-verification.
- Download the updated certificate:
- Once the update has been approved, download the new certificate.
The perfect time to update
You can update your details at any time. However, in certain situations, immediate amendments are required:
- When your business category changes (from Micro to Small or Small to Medium).
- When the business turnover or investment limit falls outside the MSME definition.
- When there is a change of business address or structure.
- When any authenticated person’s information like Mobile number, email, etc. changes.
- It is generally advisable to update information within three months of any change.
What if you do not upgrade?
Without updating your information on time, several impacts can be felt across your company in the following ways:
- Benefits accruing from MSME schemes may be discontinued because your information becomes outdated.
- Bank data verification issues result in the rejection of many loan or subsidy applications.
- If the Udyam Certificate bears incorrect or incomplete information, it would render it invalid.
Therefore, information update is not just a formality but a way of keeping your business credible.
Benefits of Update
- Immediate Benefits of Government Schemes:
- Accurate data facilitates the availing of schemes and subsidies without delay.
- Ease of Banking:
- Loan approvals are processed faster when banks know the latest status of your MSME.
- Professional Business Image:
- An MSME registration with updated information strengthens your business identity.
- Assists in registration on GeM and TReDS portals:
- The updated Udyam data is very necessary for government procurement or trade facilitation.
Common Mistakes to Avoid When Updating
- Entering wrong information on turnover or investment.
- Opting for OTP verification with an old mobile number or email address.
- Not checking the revised data before submission.
- Leaving incomplete information on the portal.
Tip: Double-check all information before submission.
You Can Apply for Udyam Re-Registration Through Udyam Portal
Conclusion
The updating of Udyam registration details is quite simple and hence a very important step; it ensures that your business has accurate data in the government records at all times. Whether you own a small business or a fast-growing startup, having the correct information updated builds your credibility and ensures growth. If you still have not updated your Udyam details, please go to the Udyam portal and correct them immediately. It takes only a few minutes, but it can benefit your business for years.