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Company Formation

Company Description

The company description of your business plan should outline your company's basic background information and business concept. Explain in general terms that you are and what you do. It must also cover the history of your company, how you reached this point, and where you intend to go in the future. Consider covering the following in your company description section:

  • Company name
  • Form of organization. (Partnership, Sole Proprietor etc.)
  • Ownership - Full name of the owners/ owner.
  • Location, offices headquarters, branches. Explain the benefits of the location
  • Definition of the business. The services or products will be outlined without too much detail. It will also describe the advantages and reasons of the choice of product or service.
  • History of the company. If the business is new, you have to explain a short historical sketch of the foundation of the company. Explain its origin, and the development of the service or product over time. Include some historical data on profits and sales. After explaining the historical background, outline the current status of your business. State the purpose of the company and business history clearly.
  • Company goals - Plans to be accomplished over coming years and how these are going to relate to the investment you are seeking. Keep the goals realistic and credible.
  • Future plans for the expansion and growth of the company.

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