What to Include
The exact elements included in your company description can vary, but some elements are more common than others and most likely should be part of the section:
- Company name: The official name of your business as registered in the state where you do business.
- Type of business structure: Sole proprietorship, LLC, partnership or corporation.
- Ownership/management team: Names of the key people behind the company.
- Location: Where is the company headquartered?
- Company history: When was the business started, what inspired you to start the business, what need does your company fulfill?
- Mission statement: A clear statement that represents the purpose of your company.
- Products/services and target market: A brief overview of what you plan to sell and to whom.
- Objectives: An outline of what you want to accomplish in the immediate future based on the data in the rest of the business plan as well as future growth goals.
- Vision statement: A statement about how you envision the future of the company.