The executive summary and Small businesses

Question 1

What is an executive summary?

Answer 1

An executive summary is a part of a business plan that contains a summary of all the main components of the business plan, it also contains an overview of all the main selling points of the business.

Question 2

What is the importance of an executive summary?

Answer 2

-> It provides an overview of the whole business plan
-> It allows readers to easily understand the business plan
-> Investors can read it and decide if they want to go through with the plan or not
-> It provides the business owner an opportunity to review the whole business
-> It answers the fundamental questions of the business

Question 3

What is the life cycle of a small business?

Answer 3

Development -> Startup -> Growth -> Establishment -> Maturity -> Declne -> Exit