Comparison with 5 Business Plan Software for Small Businesses Business

0

Over 99% of U.S. businesses are considered small because they employ fewer than 500 people according to Find the battery. Additionally, it was found that 69% of American entrepreneurs started their home business.

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 be successful than entrepreneurs who don’t. Business plans allow entrepreneurs to critically assess the strengths and weaknesses of their business, and to make product or service comparisons with their competitors. When entrepreneurs use business plan software, it saves them time and makes success much easier. There is a range of business plan software available, each with its own unique set of features, user experience, and price point. Explore the top five business plan software below:

  1. Live plan

LivePlan offers great value with an affordable price tag, 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 require the customer to continue paying for its services. If the user decides to stop the service, Palo Alto Software, the maker of LivePlan, will keep the account and business plan data active for at least one year in case the user decides to reactivate their account. The features of LivePlan are:

  • The possibility of creating an unlimited number of business plans

  • A forecasting function for those less inclined to mathematics

  • Over 500 business plan templates covering all major industries

  • Xero and QuickBooks integration

  • Real-time financial data monitoring

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

  • Step-by-step instructions and expert advice 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 charge no cancellation fees. Some of the main disadvantages of using LivePlan are that there are no evaluation capabilities and models built on earlier Business Plan Pro software from Palo Alto Software require some modification to be used on LivePlan.

  1. Business plan

Bizplan uniquely offers a lifetime plan that grants you “always-on access” to its business plan software. This business plan software provider also offers free access to starter courses and a landing page builder, LaunchRock. The features of Bizplan are:

  • Easy to “fill in the blanks” plan generator

  • The possibility of publishing the business plan online

  • Unlimited business plans

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

  1. Enloop

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

  • The user-friendly platform

  • The ability to compare clients’ financial data to their industry’s performance

  • Ready-to-use financial statements (profit and loss, balance sheet, cash flow)

  • Detailed 36-month financial reports

  • Real-time performance assessment

  • Financial projections

  • Success / failure report of the generated business plan

Some of the main benefits 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, business plans, low cost of up to $ 39.95 per month and no contract terms. Some of the downsides to using Enloop are that they do not offer chat phone support, there are no review capabilities, and there is a three-plan limit. per account and they do not offer a 30-day money-back guarantee.

  1. PlanGuru

PlanGuru offers considerably more robust software costing $ 99 per month or $ 899 per year. PlanGuru, unlike the previously mentioned software vendors, offers an evaluation 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. The other features of PlanGuru are:

  • Analysis service for financial performance and KPIs

  • Advanced Excel-based report generator

  • Compare your financial data with the performance of your industry

  • Ready-to-use financial statements (profit and loss, balance sheet, cash flow)

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

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

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

  1. IdeaBuddy

IdeaBuddy aims to help entrepreneurs develop their idea first 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 find out how much you need to get started.

  • A proprietary algorithm calculates a final score for your idea and provides recommendations for improvement once you have completed “Story Mode”.

  • Free 15 day trial, no credit card needed.

Some of the main benefits of using IdeaBuddy are that they offer a lifetime plan for just $ 178, don’t require a contract, are great for developing ideas, and don’t require any cancellation fees. Some of the main downsides to using IdeaBuddy are that they only offer customer service via email, there are known software lag issues, and they have fewer software options than the previous one. Most other options for small businesses.

Takeaway meals

Choosing the right business plan software for a business will make the life of the entrepreneur so much easier. All of the suppliers mentioned are good choices, specializing in meeting the needs of all types of businesses. Ultimately, LivePlan’s range of e-learning features and tools clearly make it a forerunner.


Source link

Share.

Leave A Reply