Tuesday, August 02, 2016

How to Tell Your Company’s History in Your Business Plan

From Bplans:

Company history in a business plan? Yes, it’s a good addition to some business plans, but not all.

When considering what to do with company history for your business plan, first consider the use of your business plan.

For the traditional business plan to be used as a business summary for potential investors, bank loan managers, partners, or legal requirements, a short summary of company history is usually appropriate.

As soon as history is relevant, of course, you cover the basic information. That includes when and where the business started and who started it. If the business has changed its formal legal entity, such as going from fictitious business name to LLC or corporation, that should be included.

Don’t assume that a brand-new startup has no history.

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