Business plan

Comparison with 5 business plan software for small businesses

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Over 99% of US businesses are considered small because they employ less than 500 people according to Findstack. Moreover, it has been found that 69% of American entrepreneurs started their business from home.

When starting a small business, one of the first steps should be developing a solid business plan. Business plans work by covering a detailed explanation of the products or services offered, a pricing model, as well as at least three years of financial projections. This article will compare five of the best business plan software for small businesses.

business plan software

According to the Harvard Business Review, entrepreneurs who write formal business plans are 16% more likely to succeed than entrepreneurs who don’t. Business plans allow entrepreneurs to critically assess the strengths and weaknesses of their business and make product or service comparisons with their competitors. When entrepreneurs use business plan software, it saves them time and makes it much easier to succeed. There is a range of business plan software available, each with its own unique set of features, user experience and price. Check out the top five business plan software below:

  1. LivePlan

LivePlan offers great value with an affordable price, costing between $20 and $30 per month. The software allows users to quickly create business plans on their cloud-based online platform. Once the plan is created, LivePlan does not oblige the customer to continue paying for its services. If the user decides to discontinue the service, Palo Alto Software, the creators of LivePlan, retains active account and business plan data for at least one year in case the user decides to reactivate their account. LivePlan features are:

  • The ability to create an unlimited number of business plans

  • A prediction function for those less inclined to mathematics

  • Over 500 business plan templates covering all major industries

  • Xero and QuickBooks integration

  • Real-time financial data tracking

  • The possibility of exporting the business plan in Word or PDF format

  • Step-by-step instructions and expert tips included

  • Performance dashboards track sales and budgeting

Some of the main benefits of using LivePlan are that they offer a free trial, low cost annual plans, and no cancellation fees. Some of the major disadvantages of using LivePlan are that there are no grading capabilities and models created on Palo Alto Software’s earlier Business Plan Pro software require some modification to be used on LivePlan.

  1. Business plan

Bizplan uniquely offers a lifetime plan that grants you “permanent access” to their business plan software. This business plan software provider also offers free access to starter courses and a landing page builder, LaunchRock. Bizplan features are:

  • Easy-to-fill plan generator

  • The possibility of publishing the business plan online

  • Unlimited business plans

  • Business plan software provider takes care of the finances

  • Cloud-based

  • Options to add more graphics and photos

  • The ability to export to PDF

  • Currently integrates with Xero accounting software

Some of the main advantages of using Bizplan are the inexpensive lifetime plan which costs $349, low cost annual plans, no contract requirements and no cancellation fees. Some of the main disadvantages of using Bizplan are that there are no assessment capabilities, users cannot export their business plan to Word, and there is no free try.

  1. Endlessly

Enloop is one of the only business plan software providers to offer a free trial. Enloop features are:

  • The user-friendly platform

  • The ability to compare client financials to industry performance

  • Bank-ready financial statements (profit and loss, balance sheet, cash flow)

  • Detailed financial reports over 36 months

  • Real-time performance evaluation

  • Financial projections

  • Generated business plan success/failure report

Some of the major advantages of using Enloop are that they offer a seven day free trial with no credit card requirement, they offer video tutorials to help the user write a business plan, plans to low cost of up to $39.95 per month and no contract terms. Some of the downsides of using Enloop are that they don’t offer phone or chat support, there are no rating capabilities, there is a limit of three plans business per account and they don’t offer a 30-day money-back guarantee.

  1. PlanGuru

PlanGuru offers considerably more robust software that costs $99 per month or $899 per year. PlanGuru, unlike the previously mentioned software providers, offers an assessment tool present on the desktop version. This tool allows users to calculate the valuation of their business using three different methods. PlanGuru also offers budgeting, forecasting and performance tools. Some of the methods of projecting financial data include income, expenses, and balance sheet items. Other features of PlanGuru are:

  • Analysis service for financial performance and KPIs

  • Excel-based advanced report generator

  • Compare your finances to your industry’s performance

  • Bank-ready financial statements (profit and loss, balance sheet, cash flow)

  • PlanGuru’s business plan software allows multiple team members to work on one business plan

  • 14-day free trial and 30-day money-back guarantee

Some of the main benefits of using PlanGuru are that they offer excellent customer support, unlimited business plans, and no cancellation fees. Some of the downsides of using PlanGuru are that it’s more expensive than most other business plan software options, and the extra cost per user adds up quickly.

  1. IdeaBuddy

IdeaBuddy aims to help entrepreneurs first develop their idea before refining it into a plan. IdeaBuddy offers:

  • business guide

  • Financial plan

  • Business plan

  • Marketing plan for the sale and promotion of products

  • Market overview plan

  • Create a financial plan to figure out how much you need to get started.

  • A proprietary algorithm calculates a final score for your idea by providing recommendations for improvement after completing ‘story mode’.

  • A 15-day free trial, no credit card needed.

Some of the main benefits of using IdeaBuddy are that they offer a lifetime plan for just $178, they don’t require contracts, they’re great for developing ideas, and they don’t require any cancellation fees. Some of the major downsides to using IdeaBuddy are that they only offer email-based customer service, there are known software lag issues, and they have fewer software options than the most other small business options.

Takeaway meals

Choosing the right business plan software for a business will make life much easier for the entrepreneur. All the providers mentioned are good choices, specialized to meet the needs of all types of businesses. Ultimately, LivePlan’s range of e-learning features and tools make it a clear leader.


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