To fully respond to this question, the entrepreneur should provide a review of past performance of the product and the company. If this is a new venture, the background will be more personal, describing how the product or service was developed and why it was developed (e.g., to satisfy consumer needs). If the plan is being written after the new venture has started up, it would contain information on present market conditions and performance of the company's goods and services. Any future opportunities or prospects should also be included in this section of the plan.