It’s a long journey from having a start-up idea to creating a plan, raising funds, and finally getting the business started. It takes extensive effort to create a business plan that would lure in capital support from investors. A business plan software is the best tool available in the market to help you with that.
A business plan software offers built-in templates to create business proposals in no time. Users can search the business plan template based on their needs and write up a plan using its step-by-step guide. A business plan software allows users to identify and analyze the strengths, weaknesses, opportunities, and challenges that are anticipated in the respective business field. This has led to the rapid growth of business planning tools. According to a report, the global market value of business plan software is expected to reach USD 1,37,871.4 thousand by 2027.
There are multiple free and paid options for business plan software available in the market today. So it can be a little tricky to choose the best-suited software from the pool. If you are a beginner, it is better to start by exploring the free tools and understand them before purchasing a paid plan. To help you make an informed decision, we have listed the 5 best free business plan software in 2021.
Table of Contents
What should users look for in business plan software?
Following are the top features of a business plan software that one can use to reap its maximum benefit –
- Pre-designed business plan templates
- Collaborative tools
- Social sharing features
- Investor management
- Fundraising management
- Step-by-step template guide
- Performance dashboards
- Import/export functionality
- Multi-device support
- Data security
- Intuitive UI
Which are the 5 best free business plan software in 2021?
Following are the 5 best business plan software available in the market for free. These tools can be used for businesses of all sizes –
1. LivePlan
LivePlan is one of the best business plan software in 2021. It offers a comprehensive solution with a complete set of business planning tools. LivePlan provides more than 500 sample templates that help users to create appealing business proposals in no time. It also provides step-by-step instructions to guide users to make the best use of the software. These instructions explain the key components that users should add to different sections of their business plan. In addition, LivePlan also offers video tutorials on business planning.
LivePlan follows an SBA-approved format for drafting business proposals. It is a cloud-based platform with an easy-to-use interface. Users can create balance sheets, charts, graphs, cash flow diagrams, and profit/loss figures using LivePlan and add them to their business plan. It also enables users to keep track of their financial data with real-time updates.
Key features
- Performance dashboard
- Milestone scheduler
- Third-party integration with Xero and QuickBooks
- Cost-effective
- Financial projections
- Financial forecasting
- Investor management
- Step-by-step instructions
- Scalable
- Online customer support
- Export file format compatibility with MS Word and PDF
Pricing
LivePlan offers a free trial on its subscription plans that start at $11.66/month.
2. Enloop
Enloop is an online free business plan software with a real-time performance score tracker. It can be used to automate business planning tasks. Enloop can automatically draft business proposals online that are ready-to-use.
Enloop has a fairly easy-to-use platform with an intuitive UI. Users can create graphs, figures, and balance sheets to make their business plans appealing to investors. Enloop also supports a multi-user login that allows teams to work simultaneously on a project.
Enloop creates regular financial reports that allow users to keep track of monetary transactions and distribution. It also provides in-built templates for users to create effective business proposals in no time. It also offers video tutorials that guide users through the proposal template and help them draft different sections of the business plan.
Key features
- Pre-designed business plan templates
- Investor management
- Performance dashboard
- Fundraising management
- Multi-device support
- Data security
- Intuitive UI
- Step-by-step template guide
Pricing
Enloop offers a freemium plan that is available for public use without any subscription charges. Advanced plans are also available that start at $11/month. Paid plans also come with a free trial option.
3. Upmetrics
Upmetrics offer free business plan software with great financial modeling features. Users can utilize its business plan editor tool to create a refined business proposal in no time. It also allows users to create profit/loss charts, graphs, and figures to add additional value to the business proposal.
Upmetrics has an in-built pinboard that can be used to organize business and financial data. It offers a free trial for its subscription plans where users can create multiple projects for free before finally implementing the paid version. It also allows multi-user login that supports team collaboration. In addition, Upmetrics offers a permission control feature that provides online data protection against any unauthorized action.
Key features
- Permission control
- Multi-user login
- In-built business templates
- Step-by-step instructions
- Scalable
- Cost-effective
- Financial projections
- Financial forecasting
- Investor management
- Online customer support
Pricing
Upmetrics offers a free trial on its subscription plan that starts at $15/month.
4. IdeaBuddy
IdeaBuddy is a business planning platform that allows users to create a single-page business plan pitch. It offers financial tools for creating business plans and promote them in the market. IdeaBuddy utilizes financial forecasting feature to predict the opportunities and challenges of a business idea.
IdeaBuddy supports cash flow projections for efficient financial planning. Its proprietary algorithm also calculates the performance score of a business idea beforehand so that users can make appropriate modifications to overcome the issues.
A complete business model can be designed with this software. Being a cloud-based application, it supports multi-user login and remote accessibility as well. The key features of IdeaBuddy as a business planning software is as follows –
- Intuitive dashboard
- Step-by-step guide
- Pitch presentation
- Financial projection
- Investor management
- Online customer support
- Scalable
Pricing
IdeaBuddy offers a free trial on its subscription plans that start at $6/month.
5. BizPlanBuilder
BizPlanBuilder helps entrepreneurs build professional business plans. It offers in-built templates with an easy-to-use drag-and-drop functionality that allows users to add content with just a few clicks. BizPlanBuilder is a cloud-based software that supports remote accessibility. So, it is one of the best options for companies with a distributed workforce.
BIzPlanBuilder follows a two-way authentication protocol to protect data from potential malware. In addition, it offers free start-up courses for users where they can learn tips and tricks for creating an appealing landing page for their business. Users can export their business plans in a PDF format and share them with clients. BizPlanBuilder currently works in integration with Xero and QuickBooks.
Key features
- Collaborative features
- Remote accessibility
- Two-way authentication
- Financial projections
- Investor management
- Step-by-step instructions
- User-friendly dashboard
- In-built business plan templates
- Scalable
Pricing
BizPlanBuilder offers a free trial on all its subscription plans that start at $97/year.
Conclusion
Most of the time having a business idea is not enough. It has to be backed up with a solid plan of execution, marketing, finances, and much more. Drafting a business proposal that will stand out in this highly competitive market takes time and can sometimes be tiring. Business plan software is just the right solution if you are stuck in something like this.
But again, choosing the right software can be tricky. It is recommended to start with options that are available for free. This way you can understand the process and filter the required features based on your needs. Once you are there, you can go ahead and purchase advanced paid plans.
In this article, we have listed the 5 best free business plan software that can be used by both professionals and non-professionals. And in case, you wish to explore more options, do visit us at SaaSworthy.
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