To stay clear of any legal involvement, both parties concerned must comply and honor all agreements made. Since the loan agreement serves as a contract and legal documentation, a violation of the terms and agreements can lead to a legal case and the written agreement can function as proof in court.
Executive Summary : Your business plan should start with an executive summary. This will outline the purpose of your enterprise, for example to sell handcrafted wooden furniture, and how you will achieve this goal. It should be brief and to the point.
Management by objectives (MBO) is a process of agreeing upon objectives (as can be detailed within business plans) within an organization so that management and employees agree to the objectives and understand what they are in the organization.
A brief account of how the company began- You should mention in your business plan the history behind the formation of you company and the background of the founders and directors.
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