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Determine
your location and business environment. Address all legal, zoning, and
licensing concerns your business will face. What form of business will you
set up? Why? The level of detail required for this section will depend on
your type of location (virtual, retail, warehouse, office, restaurant, etc.)
and on your idea. Demonstrate that you have completed your research.
Don’t say, “We will obtain all of the appropriate permits”;
instead, summarize them. When you explain your form of business, remember
your audience. For example, if you select an S corporation, explain your
reasoning for that selection in the context of your potential business rather
than providing the definition of an S corporation. Address any pending
regulations that may have an impact on your business.
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