Business Description: After the executive summary, you need to write a short description of the business you are going into. You need to give a general description of the industry your business belongs to. You will write about your company's mission statement, goals and objectives, business philosophy, as well as its legal form of ownership (sole proprietor, corporation, LLC, etc.).
The main thing to remember in this section is not to provide new data, but to explain in detail data that has already been provided and to provide the support for that data.
The financial statements section should show the way things are now if you have an existing business, as well as a forward look at your checking account, or projected income statement. The only way a start_up company can provide an income statement and balance sheet is by projecting these figures based upon well defined assumptions. Both start_ups and existing businesses should include a statement of owner's equity.
Explain the fundamentals of the proposed business: What will your product be? Who will your customers be? Who are the owners? What do you think the future holds for your business and your industry?