A business description is included in a small business plan. It outlines objectives and how to achieve them.
The Small Business Administration plsn an effective business plan will generally include:. Business plan description of business most business plans, the company description help homework literature included in the section that directly follows the executive summary. The business description is meant to provide an overview of the business, including what the business does and how the company is unique from others in the same industry.
1. Company Name
This description provides extensive details business plan description of business the business. In addition to outlining goals and how the goals are going to be met, it includes where the company is located and how many people are going to be employed.
It also gives a detailed overview of the vision and direction of the business ; this helps lenders and stakeholders develop a realistic picture of who and what the business are.
A business description varies from one company to the next. Generally, though, it will need to look similar to the following:. You can ask and answer plab following questions to help you create a detailed business description:. The first paragraph of a business description needs to be extensively detailed, capturing pertinent information about the business.
It's in this paragraph that you want to ensure the name of the descriptoon is clearly stated. In addition, business plan description of business research paper on internet attack to outline the present outlook of the company as well as its future potentials.
Furthermore, you should detail any products or developments that are expected to hit the market that could have an impact on your company, whether it be a positive or adverse impact. All of the observations you make should be made using reliable data; include sources business plan description of business this data in footnotes.
You will need to provide these footnotes if you are seeking funding for the company.
Questions to Ask and Answer When Creating a Business Description
The investor will want desrciption sources to ensure you are not making projections based on assumptions. Your goal is to captivate their attention and entice them to invest in the company.
As you are creating the business description, make sure to outline its structure. Are you a retail company?
What is a business plan?
A manufacturing business? Accounting firm? Dwscription you service-oriented? You should always have your business description proofread. This proofreading should take place by a person who has not been part of creating the business plan ; this allows a fresh set of eyes to examine the description for any typos and grammatical errors.
What is a business description?
If you have questions about creating a business description or if you need help developing one, post your legal need on the UpCounsel marketplace. UpCounsel accepts only the top 5 percent of lawyers resume for a college job its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Business plan description of business Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.]