The history section of a business plan would be used to detail the evolution of the market and industry which the proposed new venture will be engaged in.
Significant Past Events
In providing information about significant past events within the market, third parties might be able to gain a greater understanding of the complexities and risk environment likely to be faced by the business in the future.
Data contained in this section might relate the performance of the relevant market to other business sectors. For example, the share prices of major competitors over time compared with the FT all share index might be useful for potential investors to consider.
Structure and Presentation of the Information
The structure of the information provided should be concise and relevant. Only the salient details need be provided as verbose and copulas volumes of information would only serve to detract from the essence of the message being communicated.
A tabular format or structure might be advisable as it would allow a reader to scan the information quickly where having to pick out key dates and events from rows of text.
Similarly to the competition analysis section of the business plan, the market history chapter enabled the start-up personnel to demonstrate that they have a good understanding of the industry and have adopted a diligent and methodological approach to their venture.