The Executive Summary is the most important section of your 8a business plan. It provides a concise overview of the entire plan along with a history of your company. This section describes the fundamental elements of your business, as well as what business you are in, why you are in it, and what you hope to accomplish. For example, describe your business in terms of where it has come from, where it is now, where you want it to go, and how you plan to get it there. This section is important because it explains why you think your business idea will be successful. This is a complete summary of your 8a business plan and should be the last section you write. After you’ve completed all the other details of your plan, you’ll be better able to summarize it. 1 to 2 pages is an appropriate length for the executive summary.
Here are some important elements to include in your Executive Summary:
- The Mission Statement – The mission statement briefly explains the thrust of your business. It could be two words, two sentences, a paragraph, or even a single image. It should be as direct and focused as possible, and it should leave the reader with a clear picture of what your business is all about.
- Date business began
- Names of founders and the functions they perform
- Number of employees
- Location of business including branches or subsidiaries
- Description of plant or facilities
- Primary industry and NAICS code
- Products manufactured/services rendered
- Summary of company growth since the beginning, including financial or market highlights
- Summary of future plans
With the exception of the mission statement, all of the information in the Executive Summary should be brief since the details will be provided further along in the plan.
For newly certified 8a companies, Cloveer provides professional assistance in preparing SBA acceptable 8a Business Plans.