To help increase the strength of the MSME sector and offer more financial assistance as well, in order to strengthen the MSME sector and provide better financial aid, ISO Certification Reimbursement Scheme has been extended through the Government. The new scheme offers an all-in-one reimbursement for small-sized businesses that have obtained the ISO 9000/ISO14001/HACCP certification.
There has been a greater attention to providing assistance to small and medium-sized enterprises since they are among the major contributors to GDP of the country. With the growth comes the chance to expand into international markets too.
In order to help in this regard, to help with this, the ISO MSME Reimbursement Scheme expanded to allow small and mid-sized companies to apply for ISO certifications for:
- Standardize their products
- Make sure they are in compliance with International Quality Standards
What is ISO MSME Reimbursement Scheme?
To comprehend this, we must first understand what is an ISO (International Organisation for Standardisation) certification means:
An ISO Certification is a type of internationally recognized certification that ensures that the company’s products conform to international quality standards. It conducts a variety of tests of quality before giving the certificate to a company.
- ISO 9000: Deals with quality management and quality assurance
- ISO 14001: Deals with Environmental management
Why Do Businesses Need ISO Certification?
ISO Certification involves considerable funds.
The Development Commissioner of Small-Scale Industries (SSI), Ministry of SSI and the Government of India offers a program of funding for small and medium-sized enterprises to apply for certification. This scheme is called an ISO Certification Reimbursement Scheme.
The Scheme will provide only one-time reimbursement against an SSI permanent SSI registration certificate.
The ISO 9000/ISO 14001 Certification repayment scheme helps MSMEs obtain the required ISO certification and reimburse the financial assistance they require. The most significant characteristic of the scheme
These are the key features of the scheme
- The cost of taking advantage.
- ISO-9000/ISO-14001/HACCP Certifications are reimbursed under the scheme.
- The reimbursement limit is 75% of the cost of expenses incurred for access of the certification.
Key Highlights of ISO Certification Reimbursement Scheme:
The ISO 9000/ISO 14001 Certification Reimbursement Scheme assists MSMEs achieve the ISO certification by offering financial assistance.
- All costs that a small company has to incur due to ISO-9000/ISO-14001 accreditation is refunded under the scheme.
- The limit of reimbursement is set as high as 75% of costs of the certificate, up to a maximum amount that is INR 75,000.
- It is only a once-off offer if the company provides an Entrepreneurship Memorandum number.
Who Runs the Scheme?
The scheme is managed through the department of development for small, medium and micro companies. The scheme is run by the director of development for the small-scale industry (SSI). Ministry of SSI and the government of India.
Who Can Apply for The Scheme?
Certain organizations and other industries decide on the criteria that determine applicants to the scheme. The criteria include:
- SSSBE small, SSIs or an ancillary, they already have according to the ISO 9000/ISO14001/HACCP accreditation.
- They are registered permanently as small scale, small business enterprise (SSSBE)
In order to be eligible to be eligible for the scheme, the company must meet the criteria for eligibility. Your business is eligible if it is a permanently registered small scale service which has already acquired the ISO-9000/ISO-14001/HACCP certification.
Businesses can benefit from this scheme simply by filling in an application form, and then submitting the application form along with documents to the DCMSME website.
Like similar to ISO Certification Reimbursement Scheme program, governments, and RBI have collaborated to offer a variety of MSME programs in 2019. Some of them include:
- The first steps to explore foreign lending options with international lenders for MSMEs.
- Eliminating the charges for NEFT as well as RTGS transactions.
- Offering lower-cost loans to MSMEs through lower repo rates.
- The introduction of GST Benefits for Businesses that use QR Codes for payment.
How Do You Apply for the Scheme?
The companies that are eligible and interested may avail the scheme by filling out the application form and submitting the application form along with their specified address such as a permanent MSME in the Office.
The Final Thought!
The ISO 9000/ISO 14001 Certified Reimbursement Scheme is an important step in the right direction. It allows the MSMEs as well as SSIs to be competitive enough to be able to meet the standards of an international market, without worrying about the financial resources of our businesses to be certified.