Tide launches formalisation tools to help MSMEs access govt benefits

By Gloria Methri

Tide, a business financial platform in India, has announced a strategic partnership with eMSME to help micro, small, and medium enterprises register formally and discover government support programmes. The collaboration introduces three new services on the Tide platform—GST Registration, Udyam Registration, and Scheme Discovery Reports—designed to accelerate formalisation and improve access to credit, subsidies, and incentives.

With over 6.3 crore MSMEs in India, many still operate informally, limiting their access to formal financial systems. Tide’s 650,000 members can now benefit from simplified digital processes to register their businesses and gain personalised insights into over 800 government schemes.

Key Services Launched:

• GST Registration: Streamlines tax compliance, enabling Input Tax Credit (ITC) claims and smoother operations.
• Udyam Registration: Offers quick access to MSME classification, unlocking eligibility for government subsidies and initiatives.
• Scheme Discovery Reports: Delivers tailored reports that help businesses identify and apply for relevant schemes with ease.

Gurjodhpal Singh, CEO, Tide (India), said, “This partnership with eMSME empowers entrepreneurs to break down barriers to formalisation and access critical financial support. With the Scheme Discovery tool, we are helping businesses identify the right schemes based on their unique needs and eligibility, driving more inclusive economic growth.”

Despite the availability of incentives, awareness remains low, particularly among rural and women entrepreneurs. Tide’s Bharat Women Aspiration Index 2024 revealed that nearly 95% of women entrepreneurs are unaware of available government financial schemes.

CA Tanishq Hingad, COO, eMSME, added, “Through this partnership, we’re delivering essential services in a single, easy-to-use interface. Our mission is to simplify compliance and government access for MSMEs so they can focus on building and growing their ventures.”

Why Formalisation Matters:

• Simplified taxation and reduced administrative overhead
• Improved cash flow via ITC claims
• Greater access to finance, schemes, and market opportunities
• Enhanced credibility and integration into organised supply chains

With only 21% of Indian MSMEs GST-registered as of December 2024, this initiative represents a critical step towards financial inclusion and long-term growth for millions of small businesses.