Which Business Plan Software Is The Best?
Which Business Plan Software Is The Best? Photo by Christina @ wocintechchat.com on Unsplash

A business plan is more than just a document put together to attract funding for a business. It is an intricately written document that can seem daunting for just anyone to write. A well-written business plan should give a detailed breakdown of a business model, its products and services, marketing strategy, and more. It also provides a researched and thought out financial projection.

A business plan may seem like a lot for a first-timer to take on, but, thankfully, there are lots of business planning software out there to make the process of writing a business plan easier, even for a startup.

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Features of a Good Business Plan Software

Different business plan software will offer various features, making one plan superior to another. Here are some of the features to look out for:

Pricing

While a decision should not be solely based on cost, it is a factor that cannot be ignored. Choose a business plan software that is affordable and offers flexible payment plans. Some business plan software will allow monthly payments, while others will require a one-time fee before access to the service is given.

Templates

Some software will offer lots of business plan templates to choose from. Select an option that is customizable to the business's needs rather than static ones that will not allow for personalization.

Integration Options

A good business plan software should be able to integrate easily with other accounting programs on various devices. For instance, if the need to export data from Excel to the business plan software arises, the integration be simple and straightforward.

Other Features

These other features could be beneficial for a business plan software to utilize:

Graphs and charts.

Video tutorials.

Availability of financial projections.

Top Business Plan Software Reviews

There are quite a few business plan software that tick all the appropriate boxes; having considered various features, these are the top three business plan software available for use:

1. LivePlan

LivePlan provides countless templates to choose from, allowing customization of the business plan. This modern software has a user-friendly interface and is intuitive. It offers step-by-step instructions making it easy to use for even the technically challenged individual.

LivePlan helps to set goals and benchmark the business against competitors in the market. Thanks to its host of unique features, it is our top pick for the best business plan software.

Pros

  • Affordable, pay as you use the plan.
  • Accessible from any device that has internet connectivity because it is cloud-hosted.
  • You can create unlimited plans using only one account.
  • Over 500 templates to choose from.
  • Flexible annual contract with 60-day cash back guarantee.
  • Contains resources such as a step-by-step wizard, video tutorials, and so much more.

Cons

  • It can be a challenge to learn such an intricate app.
  • Limited integration with other programs apart from QuickBooks and Xero.
  • Despite being mobile responsive over the internet, it does not have iOS or Android apps for mobile phones.

2. Enloop

Enloop comes as a close second to our top pick thanks to its free 7-day trial. It is a simple to use program that is straightforward and solely dedicated to creating business plans. It includes automated text writing, financial benchmarking against competition and forecasts, and real-time performance tracker, among other simple solutions for creating documents.

Pros

  • Straightforward and simple.
  • Has a free 7-day trial.
  • Guided help in each section.
  • Ability to draft up to three plans simultaneously, a feature that is unique to this software.
  • Affordable plans which offer a discount for the annual plan.

Cons

  • Zero integration options.
  • No easy and straightforward way to contact customer care except via a contact form.
  • Doesn't offer pre-designed templates.

3. GoSmallBiz

GoSmallBiz business plan software makes it onto the list thanks to its extra features and business planning guidance.

Pros

  • Easy to use and compose a business plan.
  • Links to third-party platforms and services.
  • Generates projections and financial statements.
  • Links to consultants allowing additional inquiry for support and assistance.

Cons

  • Can only export to PDF and Microsoft Word.
  • A limited variety of sample business plans.

Conclusion

It's obvious to see why we settled on LivePlan as our top pick for a business plan software. LivePlan offers a wider variety of features than the other software plans at an affordable monthly premium. Should you still doubt, compare, and contrast these features against other software available in the market for a comprehensive analysis.