Also state whether the business is new or already established.
You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business.
Base all of your observations on reliable data and be sure to footnote sources of information as appropriate.
Show how you will expand your business or be able to create something by using that money. A potential lender is going to want to know how successful you're going to be in this particular business.
Factors that support your claims for success can be mentioned briefly; they will be detailed later.
It doesn't attempt to hold the reader's attention for an extended period of time, and this is important if you're presenting to a potential investor who will have other plans he or she will need to read as well.
If the business description is long and drawn-out, you'll lose the reader's attention, and possibly any chance of receiving the necessary funding for the project.
Market strategies are the result of a meticulous market analysis.
A market analysis forces the entrepreneur to become familiar with all aspects of the market so that the target market can be defined and the company can be positioned in order to garner its share of sales.
Detail whether the business is a sole proprietorship, partnership or corporation, who its principals are, and what they will bring to the business.
You should also mention who you will sell to, how the product will be distributed, and the business's support systems.