We earn commissions if you shop through the links below. Read more
Written by: Carolyn Young
Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.
Edited by: David Lepeska
David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.
Published on March 7, 2023
Updated on December 13, 2023
Starting a business requires completing countless tasks, and a key early hurdle is writing a business plan. Entrepreneurs who aren’t looking for funding often think they can skip it, but that’s never a good idea.
A sharp and detailed business plan is essentially a business owner’s commitment to and preparation for the road ahead, detailing the operations, revenues, and potential growth. It’s a lot of work, but quality business plan software can ease that burden by guiding you through the process, helping with financial projections and more.
Yet with so many options out there, how do you know which one is right for you? This handy guide reviews the top five software choices to ensure you select the best tool for you and your business.
Best Overall
Easiest to Use
Best Support for Startups
Best for Financial Forecasting
Best for Variety of Services
LivePlan is a leader in business plan software that stands out with software that offers tips and advice for business planning, funding, and growth. LivePlan offers two competitively priced business plan software packages.
LivePlan’s Standard package costs $20 per month and includes step-by-step planning, lender-ready financial statements, a full financial forecast, and a one-page pitch builder. You’ll also have access to more than 500 sample business plans.
Their Premium package costs $20 for the first month and $40 per month thereafter and includes everything above plus industry benchmark data and “what if” guides to help you prepare for the unexpected.
It also includes performance dashboards, real-time profit and cash forecasting, an automatic forecast builder, the ability to export sheets to Excel, and syncing with Quickbooks or Xero. LivePlan offers a 25% discount if you pay annually instead of monthly, as well as a 35-day money back guarantee.
LivePlan offers user-friendly business planning with valuable guidance at reasonable prices, backed by a 35-day money-back guarantee. We highly recommend it for business owners.
Founded in 2010, Enloop stands out with an automatically generated text tool that users can edit as they wish. Enloop offers a seven-day free trial and two paid plans.
The seven-day trial and the two paid plans (Detailed and Performance) all include a host of features. The Detailed plan costs $19.95 per month, while the Performance plan runs $39.95 monthly.
All plans include:
With the Detailed Plan you can create up to three business plans and request an analysis of three of your financial ratios. You can also have two additional contributors.
With the Performance Plan, you can have 16 of your financial ratios analyzed and collaborate with five contributors.
If you make a single annual payment, you’ll get 55% off for the Detailed Plan and a 60% discount for the Performance Plan. All the Enloop plans offer a rich array of features at affordable prices.
Enloop offers cost-effective plans for creating up to three business plans but lacks full intuitiveness and support. If you prioritize an auto-text tool and affordability, Enloop is recommended.
BizPlan offers more than just business plan software. Signing up for their software also grants access to their crowdfunding site and other useful features.
BizPlan offers monthly ($29), annual ($249), and lifetime access ($349) payment options. Their business plan software offers full guidance as you write your plan and calculate financial statements.
Their crowdfunding platform, Fundable, can help promote your plan and raise funding from the public and investors. In addition, you can access self-guided courses and educational videos and talk with expert mentors.
A subscription also grants access to BizPlan’s Launchpad platform, which helps with customer acquisition. BizPlan is great for entrepreneurs who need guidance and access to crowdfunding sources.
Bizplan simplifies business plan creation with guided prompts, visual charts, stakeholder collaboration, and unique access to the Fundable crowdfunding platform, offering varied pricing options including a lifetime access for $349.
The first thing to know is that PlanGuru is not business plan software, but rather a sophisticated financial planning tool that can help prepare your company’s budget and financial plan. It’s available as either a cloud-based or desktop app.
Both apps cost $99 per month or $899 annually and include the following features:
PlanGuru is expensive, but if you have complex financial needs it’s a good option.
PlanGuru excels in financial planning and budgeting with user-friendly features and responsive customer service, making it ideal for complex financial needs rather than standard business plans.
GoSmallBiz offers many services for businesses beyond business plan software, including services to help businesses incorporate or maintain their business entity.
They offer one business plan software plan at a competitive monthly fee.
GoSmallBiz business plan software costs $15 per month and includes industry-specific business plan templates. You can fully customize your plan, and the software has a wizard that will guide you through the writing process.
You can also access video tutorials, and the software will help with financial statements and projections.
GoSmallBiz is an affordable choice for entrepreneurs seeking basic business plan tools. While its customer service is quick, agents could be more knowledgeable about the software; other services appear prioritized. Nonetheless, for a simple business plan, GoSmallBiz is commendable.
When choosing business plan software, look for features that fit your needs. For example, if your business model is complex, you might prefer a tool that offers more guidance. If you’re just looking to create a standard business plan, look for an option that offers the basics at a reasonable price.
Be sure to check out customer reviews to get an idea of the service quality and product usability.
Business plan software comes with pros and cons, detailed below.
As a leading entrepreneurial advisory site, we take our responsibilities seriously. We understand that countless entrepreneurs, and potential entrepreneurs, rely on our judgments and insights, particularly when it comes to creating their business plan.
As a result, our writers do their utmost to gain a comprehensive understanding of the services offered and the actual customer experience. In this case, we:
Thanks to this full immersion in the actual customer experience, our reviewer and team are able to provide the most complete and insightful review of these business plan softwares.
After a thorough review of the top tools, we choose LivePlan as the best option. Their software is easy to use and offers guidance throughout the process. The software helps craft a polished business plan that’s ready to present to investors – and that’s just about the best possible compliment!
To top it off, LivePlan also provides quality customer service and solid value. As a result, we highly recommend LivePlan to all small business owners.
Business plan software will offer guidance as you write your business plan. It’s more than just a template and can even help create a business plan that’s ready to present to investors. Most business plan software is inexpensive and thus worth the investment.
Some business plan software companies offer free trials, including Enloop. But most free tools are just templates that offer no guidance.
Business plan software should be more than a template, offering guidance and financial projections. It should produce a polished business plan and the financial statements you need.
Published on October 13, 2023
In the first segment of our conversation with Vinay Kevadiya, the visionary behind Upmetrics, we explored the platform’s origins and itsunique ...
Read Now
Published on September 15, 2023
When you’re starting a business, a business plan is essential whether you’re going to obtain financing or not. Creating a business plan helpsyou ...
Read Now
Published on September 13, 2023
Launching a business involves countless tasks, and one of the crucial early hurdles is writing a business plan. Many entrepreneurs who aren’tlooki ...
Read Now
No thanks, I don't want to stay up to date on industry trends and news.
Comments