Business_Law-Organizing_A_Business

Business Law-Organizing A Business There are many things that go into the process of organizing a business. Before you can receive a loan from the bank, you must have a plan to that describes the key elements that go into your business to show the bank. There should be several sections that describe the basis of your business. Each section should have a heading, and under the heading should be an explanation of what your plan is for that topic. The first section of the business plan should be titled “Description of Business”. Under section one, there should be a detailed summary of what the business is doing to be all about. Section one should explain to the bank: 1. The Business Form – Proprietorship, partnership or corporation. 2. The Business Type – Merchandizing, manufacturing or service. 3. What the product or service is. 4. If it is an independent business, an expansion or a franchise. 5. When the business will be open. 6. Where the business will be located For example, if one were to start a car wash business with their friend, then their business description would include that the business would be owned by a partnership and that it would be independently owned. The business type of the car wash would be service, and the business, should, partnership, car, wash, one, partners, section, open, plan, partner, service, example, city, certain, under, permits, people, pay, owned, need, located, licenses, laws, heading, go, buy-sell, being, before, bank, agreement, zoning, type, titled, taxes, take