Entrepreneurship

Company Description Section  The Company Description section of a business plan provides the reader with a brief overview of the business including the business name and other relevant information about the business.  The Company Description section is usually placed near the beginning of the business plan to establish a framework for the reader.

Contents  The company name  A general summary of the business.  A declaration of a business form of ownership-  Sole proprietorship, partnership, or corporation  An industry classification for the business.  The location of the business – where will day-to-day operations happen?  The year the business was formed.  The primary function of the business (main products/services)  How many employees, if any. What are their job titles?  Who (if anyone) will be providing advice on legal, insurance, and accounting issues? These are your business advisors.

Creating a Name for Your Business Should convey:Should NOT:  Immediate impression of your business to customers  Expertise being offered  value/uniqueness  Qualities and benefits  Style and image  Pleasant and positive  Easy to pronounce  Easy to remember  Non-limiting for future growth  No more than two or three words  Contain misspelled words  Be too similar to other business names  Offend or embarrass potential customers  Be too vague or too general  Begin with A, An, The  Contain more than three words

Does the Business Name Already Exist Search this website   Search for trademark – this is a name, symbol, or other device identifying a product or business, officially registered and legally restricted to the use of the owner or manufacturer.  Can also check with the Secretary of State in Ohio

Sample