Business Plan Describing the business

This section should help focus your thoughts on what your business does (or will do) and the direction it is going. Your plan is written primarily for the purpose of growing your business and as such it is likely that you will be using it in the early stages to secure backers either financial or those offering support and advice.

Before you write this element you therefore need to consider whom you are targeting. If you are approaching a bank to borrow they will be looking to see how secure their investment is (you will need to identify and then minimise the possible risks). If your financial backers are likely to be investors then they will want to know the expected growth plans and when they will see a return on the money.

In addition to a detailed description of how your business will operate you will need to produce an overview of the general sector in which you will be operating and a summary of competitors.

Before you introduce this general overview, start off this description section by listing the name, address and telephone number of the business and the names of all directors.

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