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Part 6 Company Structure on the Business Plan

Understanding the business structure of your company is as essential as knowing how you will provide solutions to the market. The company structure helps one to know who the owner of the company is and as a complementary feature understand the obligations that need to be met by that institution.

This section of the business plan provides an overview of the company structure and in the second part it highlights the roles of the team in aiding the company meet its objectives.

a. Overview

  i. Use this area to specify who owns your company. If there are multiple owners, describe each of them and how much of an ownership stake they have.

Also, identify your companyís legal structure. Is it a sole proprietorship ó that is, just you working for yourself? Or a partnership, such as a limited-liability corporation (LLC) or partnership (LLP), where the profits pass through to the partners involved? Or a nonprofit organization?

Or a proper S- or C-type corporation with its own tax obligations and the rest?

ii. If you are just getting started on your business and are not familiar with these options, searching online for "business structures" should provide plenty of background reading on the pros and cons of the various options.

b. Team

i. Management Team - List the members of the management team, including yourself. Describe each personís skills and experience and what they will be doing for the company.

How do they make your team stronger? Do they have specific expertise in your industry or subject matter? Do they have experience starting or managing other small businesses? Use this space to really emphasize the strengths of yourself and your team. Assuming you have identified a great market opportunity, why are you the right ones to capitalize on it?

  ii.      If you are a sole proprietor or otherwise working by yourself, just focus on your own skills, experience, and past successes. You may want to rename this section to avoid the "team" language.

Part 6 Company Structure on the Business Plan

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