Micro, small, and medium-sized enterprises, commonly known as MSMEs, occupy a crucial role in driving economic growth, impacting both developed and developing countries through the process of registering as MSMEs. The impact of such registration has been substantial, particularly in emerging economies, where it has resulted in the creation of employment opportunities for a workforce exceeding 50 million individuals worldwide. While it may not be a compulsory legal requirement, the act of MSME registration confers a plethora of advantages. These benefits include incentives for exporting products, simplified access to loans at favorable interest rates, relief from excise duties, and a variety of perks that can significantly contribute to the growth and prosperity of these enterprises.