Support may come in the form of advertising, promotions and customer service.
Once you've described the business, you need to describe the products or services you intend to market.
Show how you will expand your business or be able to create something by using that money. A potential lender is going to want to know how successful you're going to be in this particular business.
Factors that support your claims for success can be mentioned briefly; they will be detailed later.
Give the reader an idea of the experience of the other key people in the business.
They'll want to know what suppliers or experts you've spoken to about your business and their response to your idea.Within that space, you'll need to provide a synopsis of your entire business plan.Key elements that should be included are: When writing your statement of purpose, don't waste words.Market strategies are the result of a meticulous market analysis.A market analysis forces the entrepreneur to become familiar with all aspects of the market so that the target market can be defined and the company can be positioned in order to garner its share of sales.If your plan isn't too complicated, keep your business description short, describing the industry in one paragraph, the product in another, and the business and its success factors in three or four paragraphs that will end the statement.While you may need to have a lengthy business description in some cases, it's our opinion that a short statement conveys the required information in a much more effective manner.You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business.Base all of your observations on reliable data and be sure to footnote sources of information as appropriate.Also state whether the business is new or already established.In addition to structure, legal form should be reiterated once again.