For whom is a 'description of the business' included in a business plan primarily intended?

The description of the business in a business plan is primarily intended for investors and stakeholders because it serves as a critical component that outlines what the business is about, including its mission, vision, and operational structure. This section provides potential investors and stakeholders with a concise yet comprehensive overview of the business concept, market need, products or services offered, and competitive advantages.

Investors, specifically, require detailed information to assess the viability and potential return on their investment, making it essential for the business description to be thorough and compelling. Stakeholders may also include partners, suppliers, and even customers who have an interest in the business's success. They all rely on this description to understand the business's objectives and how it plans to achieve them, which guides their decisions in collaborating or investing in the venture.

While current employees and board members may find this information valuable, the primary audience for the business description is those who are not part of the daily operations, specifically external parties considering financial involvement or partnership. Similarly, while the general public may have an interest in a business, the detailed nuances contained in a business description cater more specifically to those directly invested in the business's success.