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It describes what business you are in, what your business will do, what are your goals for your business.This section includes the following: Mission Statement: All companies should have a brief mission statement explaining their reason for being and their guiding principles.
What are the competitive advantages or disadvantages of your business?
Examples of your competitive advantages include the unique features or differences in the quality of products.
Write the summary in an enthusiastic, professional, complete, conversation tone, but keep it brief and concise.
Imagine this section as a five-minute interview – what is the most compelling thing that you’d like to convey to someone else about your business. What are the future trends for your business and your industry?
The mission statement is usually 30 words or fewer.
If you want to draft a mission statement, this is a good place to put it in the plan, followed by: Company Goals and Objectives: Goals are your long range plan – where you want your business to be.Explain the basics of your proposed business: What are your planned products or services? If applying for a loan, state clearly how much you want, precisely what you plan to use the funds for, how the loan will make your business more profitable, thereby ensuring repayment.General Company Description This section is an overview of your basic business.This section is brief, lots of bullet points to highlight the business goals.The executive summary is rarely more than two pages.Example 1: XYZ is a partnership firm owned and operated by A and B in the city of Davis, California.You can find all types of lab equipment for schools and colleges.The general company description should tell your audience what your company does, what its goals are and what business philosophy it subscribes to.A company profile is a formal introduction of your business.Legal form of ownership: Sole proprietor, Partnership, Corporation, Limited liability corporation (LLC)? Products and Services Describe in detail your products or services (include any technical specifications, photos, drawings, sales brochures.All these items and any other bulky items should be placed in Appendices).