In what section of your business plan would you put information regarding your competition?

The most suitable section for including information about your competition is the market analysis. This portion of a business plan aims to provide a comprehensive overview of the industry and market environment in which your business operates, including an evaluation of your competitors.

In the market analysis section, you can analyze the strengths and weaknesses of competing businesses, identify trends, market needs, and how your business can position itself effectively in relation to competitors. This insight is crucial for developing strategies to differentiate your offerings and capture a share of the market.

On the other hand, while the business environment section may touch on broader economic factors and regulatory issues affecting the industry, it is not the primary locus for competitive analysis. Strategic planning focuses on long-term goals and how to achieve them, and operational strategies deal more with the day-to-day functions of your business. Thus, the market analysis is the most appropriate place to detail your competition and their impact on your business strategy.