An overview of owning a business

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An overview of owning a business

Starting a Business | Internal Revenue Service

For a start-up business, you might be writing a business plan and executive summary to present to a lender for financing. It provides the lender with a preview of what the plan details.

According to the website Bplans, the executive summary includes five primary parts: Add the title to the page. Start the first paragraph with the business name and address.

Write a description of the business offering. Follow up the business name and address in the same paragraph with a description of the product or service the business expects to offer. Highlight the products or services in a way that sounds appealing and sets you apart from the competition.

You want the executive summary to intrigue the reader enough to read what the rest of the business plan holds. State the purpose of the plan in the first paragraph.

Each business plan has its own objective.

An overview of owning a business

Some business plans are simply for internal use, while other start-up business plans are for potential investors or lenders. The website Bplans suggests that if the purpose of the plan is to find investors, then say it.

If you are seeking a small business start-up loan, say it. Move on to writing the second paragraph and highlight important parts of the plan. This paragraph, for a start-up business, typically includes sales and profit projections for the business.

According to Bplans, you either can describe this information in text format or include pie charts or graphs to reflect the information. Tips Executive summaries should be clear, precise and to the point.

According to Bplans, the best executive summaries are one page in length, although Bplans says that some experts say the executive summary can be two pages or as many as 10 pages.

References 2 Small Business Administration: Photo Credits business plan image by pablo from Fotolia.Use this tool throughout your homebuying process to see how your credit score, home price, down payment, and more can affect mortgage interest rates.

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Sole proprietorship

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