) type of legal entity (e.g., corporation, partnership, sole proprietorship, etc.) .
when the business was established where it is located .
the type of facilities, if any (e.g., retail establishment, manufacturing plant, etc.), although you may need to devote a separate section to this subject if your facilities are very important to your business the number and type of employees .
the organizational structure (table of organization showing who is responsible for what) operational information, such as a schedule of the hours the business is open identity of key employees, including a description of their abilities that make them vital to the success of the business. You may decide to devote a separate section to employees, if you think they are key to your success. .
The information provided should go beyond a simple statement of facts. For example, if you chose to incorporate rather than to operate as a sole proprietor, what factors influenced your decision? Explaining why a particular decision was made goes a long way in helping the reader understand your decision-making process. .
Don't forget yourself when you think about key employees, particularly if you're starting a new business. You need to present your educational background and prior business experience in a way that establishes your ability to succeed. While you probably won't include a copy of your resume, much of the information that appears on your resume will appear in the plan. Don't be afraid to present yourself in the most favorable light that you can honestly and objectively .
portray. .
The business background is also the place to identify the goals and objectives of the business by explaining in general terms what business you are in or want to be in. How is it unique and why will your goods or services appeal to customers? This requires consideration of competitors who are appealing to the same customers. Why will customers prefer your business to theirs? .
