If you’re planning to start your own business or fulfill your dream of financial independence by setting of your dream or business idea, you definitely need to plan for it.
A business plan is the ideal tool to lay out your mission, unique selling point, and set projections for the future that you will use as your targets to reach your goals.
Writing out a business plan can be tasking, but if you have to get a loan or funding for your idea, there’s no escaping this process.
Fortunately, there is so much help you can get online with business planning software, which have customizable templates for different business types, so you can create a structured document that you can take to the bank or potential investors for seed capital.
This article looks at the top five business planning software solutions you can use to get you started on your entrepreneurial dream.
Best business planning software for 2018
LivePlan is a world leading business planning software that helps you get your business idea off the ground regardless of your industry location.
With it, you can pitch, plan and track your business from anywhere, using a one-page business plan that is fast, easy, and fun to create in no time.
Features include step-by-step instructions with built-in prompts, definitions, videos, examples and text tutorials, more than 500 plan samples and examples, error-free financials, dashboards to monitor your business health and track your progress and performance.
You can also see how your revenue and other important metrics measure up to your goals and industry standards, while adjusting your plan as things evolve, as it is a live plan.
LivePlan also syncs with QuickBooks, plus you need not hassle with formulas. It creates financial tables, charts and reports automatically, and you can export your final plan to Word or PDF, or export your pitch to PowerPoint for a beautiful slideshow presentation.
Your plan remains secure and confidential as LivePlan runs on a dedicated network with bank-level security, locked with firewalls and 24/7 monitoring. You also get free expert advice and fast customer care via phone, email or online chat.
Ultimate Business Planner
This business planning software by Atlas Business Solutions is the fastest and easiest way to writing a business plan.
Features include an easy step-by-step guide to making a business plan in minutes complete with financial projections, with simple English instructions, advice and how-to hints as you go along.
Other features are more than 1000 indexed business plan samples, with 25 complete sample plans to get you started, hundreds of business start-up resources, and it works with Word, Excel, PDF and QuickBooks programs.
Ultimate Business Planner supports any type of business from sole proprietorships, to partnerships, limited liability companies, non-profit organizations, internet companies and much more.
It comes in the recommended format for banks and investors thus you are prepared to pitch for loans or funding from potential investors easily.
The latest features include a new interface, five-year financial projection, improved graphs and reporting, enhanced start-up resources, and updated small business loan programs, plus so much more.
Enloop is a free business planning software that lets you write a business plan and forecast success automatically, in an easy and simple online platform.
All you need to do is enter your company information in each section, then select from over 100 currency symbols and formats to set up your financial reports.
You can invite your team to collaborate with you as you create the plan.
Features include a text generator that generates basic text for each section of your plan, and you can edit or add images, tables and financial forecast data which is automatically updated.
You can also automatically generate financial forecasts as bank-ready reports in your business plan, and watch your score improve in real time as you adjust each section of your plan.
Enloop also generates critical financial ratios to analyze performance, comparing them to industry averages, and uncovering costly issues before they materialize in your business.
You can edit, revise and download your plan regularly or on a quarterly basis to identify and correct future problematic areas before they arise.
This business planning software is suitable for your existing or new business if you plan to raise capital for starting or growth, understand and manage risks, or communicate business strategy and model to your team.
Features include a powerful business modeling framework that works in real time and online so you can build up your model with your team, professional and easy to use templates to organize and present your strategy, an extensive online library of examples and how-to articles.
You can share, save and return to your plan anytime as you work on it, and access it from anywhere using a web browser, at any time.
Each project developed in iPlanner has its own unique and secure URI or network address so you can confidently share your plan online and in real time with authorized users.
As its name implies, this business planning software is an expert at creating the best business plans for any industry or business type.
It helps you make better decisions, increase profit, and accomplish goals through time-tested processes.
Features include budgeting and financial analytics, rolling forecasts, strategic planning, an integrated suite of PlanGuru apps that create intelligent analysis in less time with free educational resources, PlanGuru Launch to help you get off the ground and implement based on your time horizon and cost constraints, as well as the PlanGuru Analyst that builds and maintains your budget/forecast with ongoing reports for decision making.
You can also import from QuickBooks and Excel, budget or forecast for up to 10 years with over 20 standard forecasting methods, export reports to PDF, Word or Excel, and benefit from tools like Payroll Utility, financial ratios, business valuation, notes payable, and consolidate unlimited number of projections, among many other tools.
What to look for when selecting the best business planning software
- Easy to use structure with different elements for your type of business
- Financial plan with profit and loss, balance sheets and monthly or annual projections
- Marketing plan with industry comparisons and market data
- Sample data with explainers and/or tutorials
- Beautiful yet detailed presentation of your plan
- Relevance for your business, whether it is a sole proprietorship, small business or company
Which of these top five business planning software do you think is the best option for you? Share with us in the comments section below.
RELATED STORIES TO CHECK OUT: