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What do you need in a business plan in Colorado?

You want to open your business and be successful in Colorado, but do you have everything prepared to do so? When creating a business plan, everything about your business should be included. You'll want to have a well-written plan to present to creditors, since this can help you get more money to start your business.

What do you need to include? Start with the cover page. It needs to have your company's legal name. You need to have a logo, a listed contact person, your business's address and phone number if applicable, the date and state of incorporation and your confidentiality and nondisclosure statement. With these included, all the information on how to reach you and what privacy you give to clients is available to creditors.

Next, you need to use an appendix, so those reading the plan can jump to the sections most necessary to them. Follow this with your executive summary, which needs to be pristine. This is the part of your business plan that is going to be read by investors. It should discuss your company's purpose and background, a market analysis, the services or product you're offering, the marketing you've done and financial data. Also include information on the key personnel working with your company and the organizational structure of your business.

You need to include information on the ownership of the business, how much money you'll want, an exit strategy and licensing arrangements. You need to look into the risk factors for your business, too. Conclude your document with a summary and a timetable for both funding and future developments.

All of this information has to be presented in the best possible light. If you are creating your business strategy and plan, speaking with someone with business legal advice may be a good choice.

Source: FindLaw, "Contents of a Written Business Plan" Nov. 12, 2014

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