The Key Elements of a Business Plan

While not all elements of the business plan will be applicable to all types of small business and to your particular situation, it is important that your business plan be as comprehensive as possible without being so lengthy that no one will read it. The suggested maximum length is 20-25 pages. The body of your business plan should contain the following elements.

Part A: Background Information

1. Company and Industry Details

• In this section you will describe the start up and current status of your business, and describe the industry in which your business will operate. Include the following:
• A brief history of the company, including a start-up report if your company is already in operation
• The legal status of the company (Is it a sole proprietorship, partnership or corporation?)
• Date of incorporation (if applicable) Names and addresses of the owners and what percentage of the company they own
• Company goals and basic strategies for achieving these goals
• The major characteristics and the size of the industry
• Industry trends. Where will the industry be, and where will your business be in five years? In ten years?

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