Competitive Advantage

Complete the competitor analysis section of your business plan before answering this section by listing and detailing your core competitive advantages that give you a leg up on your competition. A competitive advantage can be anything from a unique skills base to a wider marketing reach or more distribution channels. If you’re part of a strategic alliance or you own any intellectual property (IP), this is also the place to detail it and explain how you’re going to use it. Holding any IP (such as a trademark, patent or registered design) is a competitive advantage in itself because it gives you the sole licence to profit from the idea. Find out more about intellectual property protection from the Government’s website or your local authorities.