Retail trade is increasing very rapidly in India, and the government has initiated various schemes for small-scale enterprises so that they are integrated into the formal economy. One among them is Udyam Registration. It not only gives your enterprise official recognition by the government but also enables you to take loans, subsidies, and other schemes.

But occasionally, while doing business, some information gets changed—like the business name, address, bank account details, or business category. In such cases, you have to update or revise your Udyam Registration. Here, in this article, we are going to tell you in simple words how you can update your Udyam Registration as a retailer.

Why is Udyam Registration updating necessary?

Business Chance occurs to the retailers. Some frequent reasons you need to make a change in Udyam Registration:

• Change in Business Name

• If you've changed your business or shop name, then this is an update that needs to be made.

• Change in Address

• If you've relocated your shop, you'll need to insert the new address.

• Change in Bank Details

• Details must be changed if you have made changes to your bank account or opened a new account.

• Change in Industry Category

• If you have changed your products and services, your industry category will also change.

• Changing Mobile or Email

• To make sure that you will not miss any government notifications, you must change the details of your contact information

• Timely updating of all these changes saves you trouble down the line and makes your data up-to-date in government records.

Procedure to Update Udyam Registration

The procedure to update your Udyam registration is simple and online. Just follow the steps below:

Step 1: Go to the website

• First, go to the Udyam registration portal.

Step 2: Choose the option to "Update Udyam Registration"

• On the home page, there is an option for "Update Udyam Registration." Click on it.

Step 3: Fill out the Update Udyam Registration form

• After clicking on Update Udyam registration a new page will appear on your screen. 

• You have to fill out this form

Step 4: Update Business Information

• You have to enter some basic details in the form, like the applicant's name, mobile number, etc. After that, there was a box given in the form in which you have to provide the details that you want to update in the Udyam registration certificate.

Step 5: Verify and Submit Details

• Very carefully verify the updated information. If you find everything is correct, then click on "Submit."

Step 6: Download New Certificate

• Your information will be updated in virtually no time once submitted. You can download a fresh Udyam Certificate with the new info.

What can be updated for a retailer?

Udyam registration has plenty of details that can be updated if required. In the case of retail traders, the following details can be updated:

• Business Name

• Business Address

• Owner's Information or Name

• Business Type (Proprietorship, Partnership, etc.)

• Bank Account Information

• No. of Employees

• Investment Amount

• Entering Type (Micro, Small, Medium)

• Email and Mobile Number

• GST or PAN Information

How long will it take to update?

The system will automatically check it when you apply.

The information is updated in one to two working days. It will take slightly more time if information or documents need to be validated.

Advantages of Updating for Retail Traders

Regular updating of your Udyam registration benefits retailers in many ways:

• Regular availability of the benefits of government schemes.

• Advantages may be denied if your information is outdated.

• Subsidies and bank loans are readily available.

• Certificates updated by banks.

• It makes you eligible to participate in the GeM portal or government tenders.

• With proper information, your application is approved in a matter of minutes.

• Your business's identity becomes stronger.

• Updated information enables the government and others to locate your business.

What happens if a mistake was made?

If you do make a mistake when updating—like providing an incorrect address or name—no need to panic.

You can correct through the "Update/Modify" facility by visiting the  Udyam registration portal.

In case it is too severe an error and the system won't let it be edited, you may contact the Enterprise Helpline or DIC (District Industries Centre).

You Can Apply for Udyam Re-Registration Through Udyam Portal

Conclusion

It is mandatory to renew your Udyam registration for retailers. Your company information keeps changing as your company expands. Updating such changes on time is necessary for your company's reputation and to avail government benefits.

So if you also need to update your Udyam registration, do it today. It's effortless as well as available online. 

An updated Udyam registration gives your company a solid identity, trustworthiness, and exciting new possibilities for development.