I am making a business plan for my business. Should I include information about my competitors. Will it do any harm?

I am making a plan for my business because I might be applying for a loan in the near future.

  • Competitors are an important part of any business, and also a part of the market who have the ability to take away your customers.
  • The business plan should have a section informing about your competitors (the largest operators in the market) and how you can deal with them or might have in the past.
  • Also, you should include how your business and the products & services you offer are different from them.