Your business plan communicates what your business does, your vision for the future, and the steps you will take to reach those objectives. Generally, the business plan should include:
- An executive summary
- An operations plan
- A marketing plan
- The proposed organizational structure
- Financial projections
Your developed business plan should also include the following:
The Legal Structure of your Business
You have probably heard the terms Sole Proprietorship, General Partnership, Limited Partnership, and Type C or S Corporation. The determination to form a company under a particular structure has much to do with the business activity, location, and organization. Information about each structure can be found at the California Business Portal.
Since the legal structure of the business will dictate many of the entity’s operational functions, and tax liability, entrepreneurs are encouraged to seek legal advice when considering these choices.
The Business Name
Corporations and LLCs must register their name with the California Secretary of State’s office. Information on searching name availability and filing requirements can be found on the Secretary of State website.