As an entrepreneur, you want to start a business. You know that the first step is to consider drafting a business plan proposal to organize all of your ideas. For this assignment, you will be submitting a business plan proposal for your imaginary business. For research purposes, you can choose any state for the location of your business. Your business plan should include the following: •Introduction of the proposed business •Description and explanation of the type of business entity that is best for your business ◦Partnership, corporation, etc. (for purposes of this assignment, you should NOT choose a sole proprietorship for your business entity.) ◦Provide explanation for your choice of business entity (advantages/disadvantages of the selected type of business entity) •Description of the specific steps needed to be followed to successfully and legally start the business ◦Steps will vary, depending on the type of business you choose ◦Good sources of research for this area include the following: ■Textbooks ■State statutes (for example, Chapters 47 and 48 of the South Dakota Codified Laws include information on the business formation process) ■The Small Business Administration Web site will be helpful; it includes information on how to start a small business •A draft of the appropriate written agreement for the particular type of entity chosen ◦Articles of incorporation, articles of organization, partnership agreement, etc. •A draft of a valid contract with a vendor, supplier, customer, etc. that illustrates all elements of a contract and takes into consideration some of the topics discussed in the contract chapters