Business Description
A business description is a short summary of how you business idea will work. Make sure you cover the following:
What are you offering (brief description of
product/service)
Describe the present market for the
type of product/service you will be selling
Describe the market gap that you have
identified for your product/service
Outline you competitive edge
Describe briefly how you will operate
your business, including where and how
What legal format you have chosen
(sole trader, partnership, etc.)
A brief personal profile-of you and your partners- highlighting expertise, further details will be in your CV attaché din the appendix of the document
The business description should be longer than one side of typed paper, preferably less.
In some ways the business description is the most difficult part of the business plan to write. It means bringing all your thoughts about your business and most of your research together in a few paragraphs. Although it comes at the beginning of your plan, you may find it easier to write when you have completed the later sections.