This document sets forth the current status of operations, the management structure and organization, and the identification of key personnel. If the plan is being created for an existing business, historical information is also included. The business background provides the reader with information regarding: the type of business (e.g., wholesale, retail, manufacturing, service, etc.) 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.
