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Write your business plan

Business plans help you run your business.

A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business.

Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you — or investing in your company — is a smart choice.

Pick a business plan format that works for you

There’s no right or wrong way to write a business plan. What’s important is that your plan meets your needs.

Most business plans fall into one of two common categories: traditional or lean startup.

Traditional business plans are more common, use a standard structure, and encourage you to go into detail in each section. They tend to require more work upfront and can be dozens of pages long.

Lean startup business plans are less common but still use a standard structure. They focus on summarizing only the most important points of the key elements of your plan. They can take as little as one hour to make and are typically only one page.

Traditional business plan

Lean startup plan

Traditional business plan format

You might prefer a traditional business plan format if you’re very detail-oriented, want a comprehensive plan, or plan to request financing from traditional sources.

When you write your business plan, you don’t have to stick to the exact business plan outline. Instead, use the sections that make the most sense for your business and your needs. Traditional business plans use some combination of these nine sections.

Executive summary

Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company’s leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

Company description

Use your company description to provide detailed information about your company. Go into detail about the problems your business solves. Be specific, and list out the consumers, organization, or businesses your company plans to serve.

Explain the competitive advantages that will make your business a success. Are there experts on your team? Have you found the perfect location for your store? Your company description is the place to boast about your strengths.

Market analysis

You'll need a good understanding of your industry outlook and target market. Competitive research will show you what other businesses are doing and what their strengths are. In your market research, look for trends and themes. What do successful competitors do? Why does it work? Can you do it better? Now's the time to answer these questions.

Organization and management

Tell your reader how your company will be structured and who will run it.

Describe the  legal structure  of your business. State whether you have or intend to incorporate your business as a C or an S corporation, form a general or limited partnership, or if you're a sole proprietor or limited liability company (LLC).

Use an organizational chart to lay out who's in charge of what in your company. Show how each person's unique experience will contribute to the success of your venture. Consider including resumes and CVs of key members of your team.

Service or product line

Describe what you sell or what service you offer. Explain how it benefits your customers and what the product lifecycle looks like. Share your plans for intellectual property, like copyright or patent filings. If you're doing  research and development  for your service or product, explain it in detail.

Marketing and sales

There's no single way to approach a marketing strategy. Your strategy should evolve and change to fit your unique needs.

Your goal in this section is to describe how you'll attract and retain customers. You'll also describe how a sale will actually happen. You'll refer to this section later when you make financial projections, so make sure to thoroughly describe your complete marketing and sales strategies.

Funding request

If you're asking for funding, this is where you'll outline your funding requirements. Your goal is to clearly explain how much funding you’ll need over the next five years and what you'll use it for.

Specify whether you want debt or equity, the terms you'd like applied, and the length of time your request will cover. Give a detailed description of how you'll use your funds. Specify if you need funds to buy equipment or materials, pay salaries, or cover specific bills until revenue increases. Always include a description of your future strategic financial plans, like paying off debt or selling your business.

Financial projections

Supplement your funding request with financial projections. Your goal is to convince the reader that your business is stable and will be a financial success.

If your business is already established, include income statements, balance sheets, and cash flow statements for the last three to five years. If you have other collateral you could put against a loan, make sure to list it now.

Provide a prospective financial outlook for the next five years. Include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, be even more specific and use quarterly — or even monthly — projections. Make sure to clearly explain your projections, and match them to your funding requests.

This is a great place to use graphs and charts to tell the financial story of your business.  

Use your appendix to provide supporting documents or other materials were specially requested. Common items to include are credit histories, resumes, product pictures, letters of reference, licenses, permits, patents, legal documents, and other contracts.

Example traditional business plans

Before you write your business plan, read the following example business plans written by fictional business owners. Rebecca owns a consulting firm, and Andrew owns a toy company.

Lean startup format

You might prefer a lean startup format if you want to explain or start your business quickly, your business is relatively simple, or you plan to regularly change and refine your business plan.

Lean startup formats are charts that use only a handful of elements to describe your company’s value proposition, infrastructure, customers, and finances. They’re useful for visualizing tradeoffs and fundamental facts about your company.

There are different ways to develop a lean startup template. You can search the web to find free templates to build your business plan. We discuss nine components of a model business plan here:

Key partnerships

Note the other businesses or services you’ll work with to run your business. Think about suppliers, manufacturers, subcontractors, and similar strategic partners.

Key activities

List the ways your business will gain a competitive advantage. Highlight things like selling direct to consumers, or using technology to tap into the sharing economy.

Key resources

List any resource you’ll leverage to create value for your customer. Your most important assets could include staff, capital, or intellectual property. Don’t forget to leverage business resources that might be available to  women ,  veterans ,  Native Americans , and  HUBZone businesses .

Value proposition

Make a clear and compelling statement about the unique value your company brings to the market.

Customer relationships

Describe how customers will interact with your business. Is it automated or personal? In person or online? Think through the customer experience from start to finish.

Customer segments

Be specific when you name your target market. Your business won’t be for everybody, so it’s important to have a clear sense of whom your business will serve.

List the most important ways you’ll talk to your customers. Most businesses use a mix of channels and optimize them over time.

Cost structure

Will your company focus on reducing cost or maximizing value? Define your strategy, then list the most significant costs you’ll face pursuing it.

Revenue streams

Explain how your company will actually make money. Some examples are direct sales, memberships fees, and selling advertising space. If your company has multiple revenue streams, list them all.

Example lean business plan

Before you write your business plan, read this example business plan written by a fictional business owner, Andrew, who owns a toy company.

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Small Business Trends

How to create a business plan: examples & free template.

Table of Contents

How to Write a Business Plan

Executive summary, overview and business objectives, company description, define your target market, market analysis, swot analysis, competitive analysis, organization and management team, products and services offered, marketing and sales strategy, logistics and operations plan, financial projections plan, income statement, cash flow statement.

Tips on Writing a Business Plan

Free business plan template, what is a business plan, why you should write a business plan, what are the different types of business plans.

Using Business Plan Software

Business Plan FAQs

What is a good business plan, what are the 3 main purposes of a business plan, can i write a business plan by myself, is it possible to create a one-page business plan, how long should a business plan be, what is a business plan outline, what are the 5 most common business plan mistakes, what questions should be asked in a business plan, what’s the difference between a business plan and a strategic plan, how is business planning for a nonprofit different.

• Business Plans

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Create Your Business Plan

• Create a comprehensive business plan.
• Easily customize your slides to fit your needs.
• Showcase data with 40+ chart options.

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Powerful Presentation Features That Help You Shine

Professional business plan templates.

Create a presentation or document business plan quickly and easily with Visme's template options. Customize each page or slide to fit your vision and information to pitch to cofounders or investors. Get started today.

Data visualization made easy

Tell your story with the data to match using easy-to-customize charts and graphs. Select from 40+ chart and graph visualizations and find the one that proves your point clearly. Upload static data or connect to Google sheets for live data.

Customize every aspect of your presentation with your own images and text

Convey the exact mood you desire for your business plan with over a million images, thousands of icons, dozens of charts and data widgets to visualize information in an engaging way. Apply a color scheme to all your slides with one click. Add animation effects, transitions, interactivity, pop-ups, rollovers and third-party content to support your business case.

Speed things up with Visme AI Designer

Go from a text prompt to a ready-to-use design in mere minutes with Visme AI Designer (Beta). Do you need to create a business plan but lack the time? Let Visme AI Designer help you save time and effort. Describe your desired project to our AI Designer Chatbot, choose a style, and relax as AI Designer generates your project.

Apply our simple business plan template to give you a head start.

Meet the Team

Mission Statement

Product Overview

Value Propositions

Industry Landscape

Market Size

Customer Descriptions

Market Growth

Competitive Comparison

Competitive Advantage

Business Growth Projections

Marketing Mix

Conversion Funnels

Funding Needed

Share Your Business Plan

Finished your business plan and ready to share with the world? Visme’s business plan template makes it easy to publish, download and get feedback on your design. Simply download as a high resolution image or PDF, or publish it to the web and send a link to access it.

LEARN ABOUT BUSINESS PLANS

What is a Business Plan ?

A business plan is a written document or presentation that allows business leaders to share the business potential and goals, as well as your plans for the future. The business plan is a key step in working towards getting investors looking at your product.

If you're looking to flesh out a new business idea or venture in order to get cofounders or investors on board, you need a business plan. Get started with one of our templates to give you a starting point and framework for your own plan.

Why do I need a business plan?

Writing a business plan is a key step in securing funding and convincing high level executives that your business is worth their time. A well-executed business plan is crucial to the success of a business and it’s one of the first steps you should take.

EVERYTHING YOU NEED + MORE

Make Your Business Plan Stand Out

Take your business to new heights with a beautifully designed business plan. Our tools put the power of visual communication in the hands of entrepreneurs and business owners, no matter their level of design skills.

MAKE IT ENGAGING

Interactivity

Highlight your business’ unique selling point with interactive hotspots and rollover effects. Capture the attention of investors and stakeholders with interactive content.

VISUALIZE YOUR DATA

Charts & Graphs

Showcase in-depth data, statistics, and financial projections in a unique way. Harness the power of data visualization with Visme’s professional infographics, charts and graphs.

MEASURE THE IMPACT

Gain insight into the impact of your business plan with an analytics report. Track how many people have viewed your business plan and gauge its effectiveness.

HOW IT WORKS

How to Make a Business Plan in 5 Steps

If you are wondering how to write a business plan, you’ve come to the right place. Instead of starting your business plan from scratch, use our business plan templates to get you going in no time.

Learn more about creating your own business plan presentation or document by going through our step-by-step tutorial below or watching this quick video.

• Log into your Visme dashboard or create a new account, then click Create New Project.
• Access our business plan templates by searching for “Business Plan” in the search box.
• Select the template, then customize the content for your business.
• Update any charts and graphs to reflect your business goals.
• Once all your content is added, customize colors, logos, icons and more.

Questions About the Business Plan Template

How much does it cost to create a business plan with the business plan template, what types of charts and graphs are available in visme, can i use my brand kit to create my business plan with visme, is the business plan template completely customizable, can i use any photo in the image library in my business plan, your business plans deserve to be beautiful and so does the rest of your content.

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How it Works

Start With Your Idea

Craft Your Vision: Jumpstart your business journey with a brief description of your business. Acknowledge your business type and let us seamlessly transform it into a meticulously structured plan.

Series Of Guided Questions

Easily navigate through each section with Plannit's step-by-step guidance. Enter your own detailed solutions or leverage with AI-generated content and receive helpful prompts and ideas along the way. Plannit's AI capabilities provide insightful and precise content for market analysis, financial projections, marketing strategies, sales plan and more.

Collaborate With Your Partners

Bring your team over! PlannitAI provides a dedicated space where you can invite team members to view, shape and refine your online business plan. With or without the help of our AI model You can reword, rephrase, prolong and shorten sections to your liking. Collaborate in real-time to ensure your business strategy benefits from diverse insights and expertise, leading to a well-rounded and robust plan.

Present With Confidence

With a polished, expertly crafted plan in hand, You have already won half the battle. Confidently present business strategy to investors, stakeholders, or financial institutions. Start your journey with Plannit AI and transform your vision into a reality, creating a pathway for that entrepreneur life.

Try Plannit AI Today

Who can benefit from plannit.

Aspiring Entrepreneurs

Analyze your ventures through extensive business plans aligned with your vision and goals.

Business Owners

Back your business with a solid plan that aligns with your objectives. Perfect for small businesses.

Educational Institutions

Develop your business understanding and vocabulary by analyzing your business idea and creating a plan.

Startups Accelerators

Work alongside your founders as they build their plan to ensure they have a solid roadmap for scalability.

Funding Ready Business Plan

Executive summary, company overview.

Problem Statement

Business Description

Mission Statement

Business Model

Products and Services

Additional Features

Revenue Model

Market Analysis

Target Market

Market Size and Segments

Unique Value Proposition

Risks and Mitigations

Identified Risks

Mitigation Strategies

Financial Overview

Income Statement

Marketing and Sales Plan

Focus On Your Vision

Language support.

Key Features & Benefits

Ai editing companion.

Modify and regenerate sections of your business plan using premade or custom prompts. Our AI will help you refine your plan to perfection.

Multi-User Collaboration

Invite team members with easy sharing to collaborate on your business plan in real-time. Communicate and make changes together. Collaborate with your partners in real-time as you perfect your plan.

Education Center

Immerse yourself in a rich library of articles, tools, templates, webinars and resources for continuous business and professional growth. Learn all about the key aspects of starting, running and growing a business.

Powered by Chat GPT

Our algorithms are powered the latest in AI technology to ensure the most accurate and relevant output. We use OpenAI's GPT 4o and 4o-mini engines for the perfect blend of accuracy and speed.

Business Resources

We recommend a variety of useful tools and resurces that help sustain your growth. We only recommend the best in the business. Filter your needs and equip yourself with the best tools.

Your plan in your language. We offer a choice of over 150 worldwide languages to ensure the best fit for your business plan.

Financial Projections

Take an additional questionnaire about your financial trajectory and get a detailed financial projection + 3 year income statement for your business.

Tools and Templates

Plannit's comprehensive suite that accompany business planning. From pitch decks to financial models, we have you covered.

Plan Export

Download your business plan in an editable .docx format. Fully edit & share your plan with investors, partners, and stakeholders.

Plannit Business Ecosystem

Frequently Asked Questions (FAQ)

• Initiate with Your Business Concept: Lay the Groundwork: Start by introducing your business idea into Plannit AI's Business Plan Generator. This first step is crucial, as it sets the tone for a tailored, insightful business plan that truly resonates with your vision. Capture the Essence: Our platform is designed to grasp the nuances of your concept, ensuring that the generated plan accurately reflects the core and potential of your business.
• Navigate Through the AI-Guided Questionnaire: Tailored Interactive Experience: Plannit AI’s AI-guided questionnaire is your interactive guide through the planning process. It meticulously gathers information about your business's objectives, strategies, and market positioning, ensuring a comprehensive and reflective plan. Intelligent Feedback and Suggestions: As you progress through the questionnaire, benefit from smart prompts and suggestions, ensuring that your plan is not just detailed but also strategically sound and aligned with industry standards.
• Generate Your Plan with Advanced AI: Intuitive Plan Creation: With the questionnaire complete, Plannit AI's advanced algorithms intelligently analyze your responses. They then craft a detailed, customizable, and strategically aligned business plan, providing you with a structured, coherent, and actionable format. Benefit from AI-Powered Insights: Plannit AI offers AI-driven insights and suggestions, ensuring your plan is not just a document but a strategic tool equipped with tailored AI prompts and an in-app plan editor. Get inspired by browsing through our sample business plans, a collection of successful strategies across various industries.
• Finalize Your Plan with Confidence: Dynamic Adaptation and Refinement: Plannit AI recognizes that a business plan is a living document. Our platform allows for continuous adaptation and refinement, ensuring your strategy remains agile, relevant, and aligned with your evolving business goals. Professional Presentation and Sharing: Once your plan meets your standards, utilize Plannit AI's export features to present your plan professionally. Choose between various formats for exporting your business plan, ready to impress stakeholders, attract investors, or guide your team. Review and Adapt: Ensure your business plan is a living document, ready to evolve with your growing business. Plannit AI's dynamic platform allows you to adapt your strategy as new opportunities or challenges arise.
• Roadmap for Success: At its core, a business plan acts as a strategic guide, providing detailed steps on how your business will achieve its objectives. It helps you navigate the startup phase, manage growth effectively, and tackle unforeseen challenges with a well-thought-out strategy.
• Securing Funding: For startups and businesses looking to expand, a business plan is crucial for securing loans or attracting investors. It demonstrates to potential financial backers that your business has a clear vision, a solid strategy for profitability, and a plan for delivering returns on their investment.
• Informed Decision-Making: A well-prepared business plan offers valuable insights into your market, competition, and potential challenges. This information is vital for making informed decisions, from day-to-day operations to long-term strategic shifts.
• Market Analysis and Strategy: It allows you to conduct an in-depth analysis of your target market, understand customer needs, and position your product or service effectively. The marketing strategy outlined in your business plan helps in identifying the best channels and tactics to reach your audience and achieve market penetration.
• Financial Planning: One of the most critical components of a business plan is the financial forecast. It outlines your funding requirements, expected revenue, profit margins, and cash flow projections. This section is essential for budgeting, financial management, and ensuring the financial viability of your business.
• Goal Setting and Performance Measurement: A business plan sets clear, measurable goals and objectives. It provides a framework for monitoring performance, measuring success, and making necessary adjustments to stay on track.
• Aspiring Entrepreneurs: If you're at the idea stage, looking to transform your vision into a viable business, Plannit AI offers the tools and guidance to bring your concept to life. Our platform helps you articulate your business idea, define your target market, and develop a solid plan to turn your dream into reality.
• Students and Educators: For students delving into the intricacies of business planning and educators teaching the fundamentals of entrepreneurship, Plannit AI serves as an invaluable resource. It provides a practical, hands-on tool for learning and teaching how to create detailed business plans, analyze markets, and understand financials in a real-world context.
• Startup Founders: In the dynamic startup environment, Plannit AI is the ideal partner for founders looking to pivot quickly, secure funding, or understand their competitive landscape. With our AI-driven insights and market analysis tools, startups can make informed decisions and adapt their strategies to thrive in competitive markets.
• Small Business Owners: For small business owners seeking to optimize their operations, expand their customer base, or explore new markets, Plannit AI offers targeted solutions. Our platform simplifies the planning process, enabling owners to focus on growth while managing the day-to-day challenges of running their business.
• Consultants and Freelancers: Consultants and freelancers specializing in business development, strategic planning, or financial advising will find Plannit AI a powerful addition to their toolkit. It allows them to provide clients with comprehensive, data-driven business plans and strategies, enhancing the value of their services.
• Non-Profit Organizations: Leaders of non-profit organizations can leverage Plannit AI to plan initiatives, secure funding, and manage resources more efficiently. Our platform helps non-profits articulate their mission, set achievable goals, and measure their impact, ensuring they can make a difference in their communities.
• Innovators and Inventors: Individuals looking to commercialize innovative products or technologies can use Plannit AI to navigate the complexities of bringing new ideas to market. From patent strategies to go-to-market plans, our platform covers all bases, ensuring innovators can focus on what they do best.
• Small Business Development Centers (SBDCs) and Government Agencies: Government and SBA backed entities can greatly benefit from integrating Plannit AI into their services, enhancing their ability to support a larger number of clients more efficiently. By facilitating quicker, more in-depth business plan development, these organizations can spend more time assisting with plan execution and less time on creation, ultimately serving their communities more effectively.
• Anyone with a Business Idea: Ultimately, Plannit AI is for anyone with a business idea, regardless of industry, experience, or stage of business development. Our mission is to democratize business planning, making it accessible, understandable, and actionable for everyone.
• Interactive Questionnaire and ChatGPT Integration: Plannit AI transforms the business planning process into an engaging conversation. Through our advanced ChatGPT integration, we offer a questionnaire that dynamically adapts to your responses, ensuring your plan is personalized, comprehensive, and aligned with your business goals.
• Dynamic Planning Environment: Unlike static templates provided by many, Plannit AI introduces a living platform that grows with your business. It features real-time updates, strategic insights, and a feedback mechanism that keeps your business plan current and actionable.
• Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
• Enhanced Collaboration and Customization: Recognizing the collaborative essence of business planning, Plannit AI supports team efforts with multi-user editing, annotations, and feedback features, ensuring a comprehensive approach to your strategy.
• Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
• Tailored Business Plan Creation: Our platform stands out with its tailored approach, featuring customizable templates that directly cater to your business type and industry, making plan creation straightforward and relevant.
• Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
• Strategic Insights: It can offer suggestions on business strategies by analyzing trends and providing examples from a wide range of industries.
• Financial Planning: While it can't replace professional financial advice, ChatGPT can guide the structure of financial projections and statements, helping you consider important financial aspects of your plan.

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Business plan templates

From competitive analysis to financial projections, business plans give your new business a roadmap for success. Download one of our free business plan templates and take your company to the next level.

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Create a professional Big Data Startup business plan with our customizable Startup Business Plan Template.

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Virtual Reality (VR) Business Plan

Our free virtual reality (VR) business plan helps you customize your document and create a winning strategy to land investors.

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Car Wash Business Plan Template

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Use this free and customizable clothing line business plan to appeal to investors and set up your fashion brand.

Gym Business Plan Template 

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Vending Machine Business Plan Template

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Massage Therapy Business Plan

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Candle-Making Business Plan Template

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SBA Business Plan Template

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Real Estate Business Plan Template

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Trucking Business Plan Template

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Solar Farm Business Plan

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Ecommerce Business Plan Template

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You can use this Community Center Business Plan Template, it is perfect for anyone desiring to open and run a society center. It gives the center’s owner an outline of areas that must be disseminated with the investors to earn an acquisition.

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Beauty Supply Store Business Plan

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This Electrical Contractor Business Plan template include information about the services you offer, who your target consumers are, why they should prefer you over your opponents and how much capital you require to get started.

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This business plan template is a great tool for your startup to customize to reflect your strong qualifications, experienced team, and marketable business idea.

What is a business plan?

A business plan is a document that helps small business owners determine the viability of their business idea. Combining market research and financial analysis, a professional business plan helps startup CEOs and potential investors determine if the company can compete in the target market.

Typically, a good business plan consists of the following:

• Executive summary
• Company description
• Mission statement
• Product and services
• Marketing plan
• Operations plan
• Management organization
• Financial plan
• Conclusion & appendix

Every section involved in a business plan is designed to help startup businesses reach their target market.

A business plan asks founders and entrepreneurs to detail their business strategy in a step-by-step process that makes sense from an operational perspective. This is essential if a startup is seeking a business loan or an investment from a venture capital firm.

However, even small businesses that are already economically viable can benefit from creating a business plan, since it encourages business owners and their management teams to examine their business model and reevaluate the best ways to reach their target customers.

Should I use a business plan template?

Yes.  If you’ve never written one, a business plan can be challenging to write.

Creating a successful plan that you can use to grow your small business can require weeks of market analysis and financial preparation. You may spend time using Microsoft Excel or Powerpoint in order to create documentation which better supports our operational decisions.

However, almost every professional business plan is structured in the same way and most ask for the same information. Because of this, using a business plan template is advisable to save time, money, and effort.

Business plan templates for free

Rather than spending time trying to figure out how to write a business plan , use a free template as a guide to completion.

Business plan templates from PandaDoc can help you reach an effective go-to-market strategy even faster by asking you to provide all the relevant information you need when creating an effective business plan.

Grab a free template to get started!

Frequently asked questions

How many pages should my business plan be.

This depends on the kind of business plan you need to write and how you intend to use the plan that you create.

For example, a plan for a small business seeking potential investors or a business loan will need to provide income statements, cash flow statements, and a balance sheet (usually for a three-year or five-year forecast period).

These financial statements can be omitted if a small business owner isn’t seeking funding and is instead planning to use their business plan as a guiding document for themselves and their management team members.

Some business plans may only run a few pages. Fully-developed business plans can be as long as 50 pages. Much of this depends on the type of business, the operational strategy, and the level of detail that goes into developing the business plan.

Who needs a business plan?

Every business should have a business plan. This is an essential guidance document for any founder or CEO.

Good business plans help a company determine the viability of its place in the market and can help the business develop better strategies for differentiating itself from its competitors.

Business planning also forces business owners to evaluate their marketing strategy, the cost of customer acquisition and retention, and how they plan to grow their business over time.

What is the best business plan template?

Business plans come in all shapes and sizes. The best business plan template for your business is one that you understand and that matches the size and legal structure of your operation.

If you’re a sole proprietor, a business plan template designed for a big corporation probably doesn’t make sense. However, a business plan that helps you build an effective roadmap to grow your business while protecting your intellectual property is a good starting point.

PandaDoc offers specialized business plan templates for common industries along with tips to help you get started with business planning.

Should I hire someone to write my business plan for me?

No. You’ll find freelance writers and business strategy companies out there who are happy to write your business plan for a fee.  These resources can guide you through the process, but you should write (or be heavily involved in) the creation of your business plan.

The reason for this is simple: You know the most about your business, and your business needs you to succeed.

A writer can work with you to make your business plan sound better to investors, and a consultant can help you fill in knowledge gaps — like how to conduct a SWOT analysis — and point out weaknesses in your plan. But, at the end of the day, you need to use the business plan to pitch investors and run your business.

Those ideas and guiding principles aren’t something you can outsource.

Should I use business planning software?

Software isn’t required when creating an effective business plan. Most business planning software is designed to help you navigate the outlining and writing process more effectively.

You don’t need software to write a professional business plan, but a solid template can help you get started. Download a free template from PandaDoc today and take your business to the next level.

Get started with PandaDoc today

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🤖 Free Business Plan Generator (AI-Powered)

Starting a business is an exciting journey, filled with aspirations and ambitions, yet crafting a solid business plan can sometimes feel like navigating through a dense fog. The AI-Powered Business Plan Generator shines a light on this path, offering a straightforward way to outline your vision, strategies, and financial forecasts. By providing customized, coherent business plans, this tool assists in laying down the foundation of your entrepreneurial dream, ensuring every aspect is addressed. It simplifies the planning process, enabling you to focus on bringing your business idea to life with confidence and clarity.

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Writing a business plan can often feel like navigating through a dense forest without a map. You know your destination—securing investment, defining your business strategy, or setting clear objectives—but the path isn't always clear. Enter the AI-powered business plan generator, a tool designed to illuminate the way forward. This guide will walk you through the essentials of crafting a comprehensive business plan, touching upon the traditional elements that captivate stakeholders. In the final stretch, we'll introduce how an AI-powered business plan generator can streamline this process, making it more accessible and less time-consuming.

How to create a Business Plan

Now that you're familiar with the executive summary, let's tackle how you can create the rest of your business plan.

You can start manually by outlining your plan's structure and filling in the details step by step, or opt for a business plan generator to streamline the process.

Either method requires careful consideration of each section to ensure your plan is thorough and compelling.

Manual Methods for creating a Business Plan

You'll start with the Executive Summary, distilling your business idea into a compelling snapshot that captures attention.

Next, you'll outline your Company Overview, providing a clear picture of who you are and what you stand for.

Then, lay out your Business Objectives, Products and Services, and your Market Analysis Approach to build a solid foundation for your plan.

Executive Summary Essentials

Although it's often crafted last, the Executive Summary stands as the crucial opener of your business plan. It distills key aspects such as your mission, product highlights, and financial ambitions for quick investor insight. It encapsulates your company's essence for investors and maps out the business plan development milestones.

Ensure it crisply outlines your executive summary, underscoring the company's financial goals. This will help capture investors' attention right off the bat.

Company Overview

Begin your company overview by detailing your business's foundational elements, including its name, location, and the team driving its operations.

Here's what to include:

• A clear description of your business structure and ownership.
• The mission statement that defines your business's purpose.
• An outline of the products or services you offer.
• Background information that paints a picture of your company's history and objectives.

Business Objectives

To set your business on the path to success, start by defining clear and measurable objectives that reflect both your immediate and long-term aspirations.

Align your business objectives with strategic objectives to meet financial goals.

Conduct market research to fine-tune your target market strategies .

Ensure company goals are realistic and adaptable, setting a course for growth and market competitiveness.

Regular updates keep your plan relevant.

Products and Services

After setting clear business objectives, focus on articulating the core of your offering by detailing the products and services your business provides. Your description should also include:

• Unique features and benefits of each product or service.
• Specific products' competitive advantages.
• Your strategy for sales, distribution, and supply chain.
• Trademarks and market placement for your products and services.

Market Analysis Approach

A thorough market analysis is crucial for your business plan as it reveals the dynamics within your target market and guides your competitive strategy .

You'll identify potential customers, understand established market trends, and analyze how competitors differentiate themselves.

This knowledge shapes your sales plan and informs your marketing and sales efforts, highlighting opportunities in an otherwise crowded marketplace and showcasing your grasp of the competitive landscape.

Marketing and Sales Strategies

Crafting a marketing and sales strategy requires precise identification of your target customers to ensure your message resonates and spurs action. Here's how to proceed:

• Define your target market for the new product.
• Develop a pricing and sales channel approach.
• Design a marketing plan with promotional tactics.
• Analyze market trends to refine your strategy.

Stay focused on meeting customer needs and differentiating from competitors.

Financial Analysis and Projections

Diving into the financials, you'll need to gather historical data and conduct a thorough analysis of revenue streams , costs, and profit margins to inform your projections for the next three to five years.

Your financial plan hinges on these insights.

Operations Plan

To ensure your business runs like a well-oiled machine, start by mapping out your key operational processes and procedures. Your operations plan is a vital section of your business plan. Here's what to include:

• Outline technology's role in business operations.
• Develop a comprehensive staffing plan.
• Establish a robust inventory management system.
• Implement quality control measures to provide additional assurance of product or service excellence.

Funding Requirements

Having established the operational foundations of your business, let's now focus on determining the capital necessary to fuel your growth and operational needs.

Outline your funding requirements by presenting clear financial data, including projected income, balance sheets, and cash flows.

You'll need this to secure funding from venture capital firms or potential investors, ensuring they grasp how their capital will propel your business towards its targets.

Appendices and Exhibits

When crafting your business plan, don't overlook the appendices and exhibits; these sections provide the substantiating details that reinforce your proposal's integrity. Include:

Documents that outline key personnel qualifications and experience.

Details on intellectual property, such as patents.

Additional information for financial institutions, like credit histories.

Contracts, leases, or other legal documents relevant to your business.

Using a Business Plan Generator

You might wonder why you'd use a Business Plan Generator—these tools streamline the planning process, making it easier for you to focus on the core aspects of your strategy.

To get started, you'll follow a series of steps that help structure your executive summary, goals, and market analysis within a proven framework.

The benefits are clear: using a generator can save you time and provide you with a professional, investor-ready plan.

Steps to use the Business Plan Generator

To create a business plan using a generator, start by selecting a template that aligns with your industry and business type.

Here are the steps to use a business plan generator:

• Identify Your Business Details : Start by providing the name of your business and the industry it operates in. This foundational step sets the stage for the tailored guidance the generator can offer.
• Describe Your Offerings : Clearly articulate what products or services your business sells or offers. This will help the generator understand the value proposition of your business.
• Define Your Target Audience : Specify who your ideal customers are, including demographic information. Understanding your target audience is crucial for creating a focused and effective business plan.
• Outline Your Marketing Plan : Detail your strategies for promoting your business. This includes how you plan to reach your target audience and differentiate yourself from competitors.
• Detail Your Operational Strategy : Explain how your business will operate on a day-to-day basis. Include information on your supply chain, logistics, and any other operational details.
• Provide Financial Information : Input how much money you need to start your business and project how much revenue it will generate. This financial planning is critical for assessing the feasibility of your business idea.
• Set Business Objectives : List what you aim to achieve with your business in the short term and the long term. These goals will guide the direction of your business strategy.
• Click on Generate : After entering all the necessary information, click the "generate" button to create your personalised business plan. This plan will be tailored to the specifics of your business, providing a roadmap for success.

Benefits of using a Business Plan Generator

Harnessing a business plan generator can significantly streamline the process, saving you both time and effort as you craft a detailed blueprint for your venture.

Here are the benefits:

• Provides a structured framework to write a business plan efficiently.
• Helps identify opportunities in new markets.
• Enhances financial literacy through budgeting and forecasting tools.
• Clarifies business objectives, aiding in communication with stakeholders.

Tips for Creating a Business Plan

When crafting your business plan these tips collectively form a comprehensive business plan, providing a roadmap for your business and presenting a compelling case to investors and lenders.

Here are the tips for creating a business plan:

• Articulate your mission and vision succinctly.
• Outline your offerings and financial ambitions.
• Provide a snapshot of your business's financial health and market potential.
• Clarify the business structure ( sole proprietorship , partnership, corporation).
• Highlight ownership details.
• Showcase key employees, emphasizing their expertise.
• Define short- and long-term goals for your business.
• Align goals with your strategic direction.
• Establish a direct link between financing needs and future growth.
• Describe your offerings and emphasize how they meet market needs.
• Support claims with market research.
• Demonstrate a thorough understanding of your competition.

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Free Online Business Plan Maker

Create a compelling and convincing business plan online with Venngage. Templates available for your every need, whether it's business plans, financial plans, marketing plans, and more.

Not a designer? No problem. With our easy-to-edit templates and online business plan generator, anyone can create a professional business plan for free. Over 40,000 businesses already use and trust Venngage.

Design from one of our business plan templates

Choose from hundreds of business plan templates. see all business plan templates, launch a profitable business with a visually engaging business plan.

Your business is unique and impactful — so should your business plan. Make sure the plan you share with investors, lenders, and other stakeholders is not only packed with key data and information but visually engaging too.

Looking to make your business plan stand out from the pack? Venngage's unique business plan templates add serious style to your ideas. Venngage's Business Plan Builder is a fraction of the cost of hiring a writer — you can even try creating a business plan for free.

Whether you're looking for a traditional business plan format or something more creative, Venngage's easy-to-edit business plan templates let anyone design business plans. No experience required. Free business plan templates available.

Nothing's better to convince your stakeholders than some sweet data that speaks volume. Engage and persuade your investors by visualizing your business plan data with Venngage's unique charts, graphs and diagrams.

Create a winning business plan with Venngage in 5 steps:

Design an unforgettable and convincing business plan today:

Business Plan Templates

Save money and hours of design time with Venngage's easy-to-edit templates and free business plan generator. Free online business plan templates available.

Easy-to-Use Editor

Venngage's online business plan builder is intuitive to use. The drag-and-drop editor means faster and better designs even when you don't have design experience.

Download Business Plans

Download your document with one click as an image (PNG), PDF, Interactive PDF or PowerPoint file. Add it to your Google Docs or Slides, Word doc or existing PowerPoint slides (paid plans only).

Visualize Business Plan Data

Persuade your stakeholders and tell a story with your business plan data through charts, graphs, maps and diagrams. Copy and paste your data or upload it in a .csv file in one click.

Brand Your Business Plans

Use Venngage's My Brand Kit to automatically import your brand identity. Then, add your brand colors and fonts to any business plan designs with one click.

Collaborate In Real Time

Collaborate with your whole team with Venngage's real-time collaboration. Leave helpful feedback through comments and create impactful business plans.

Easy-to-edit professional business plan templates

• Our team of professional designers have created a collection of unique, online business plan templates that anyone can customize. Pick a simple template, add your text and data and you're done.
• Or choose a more creative template and play around with the fonts, photos, icons, colors, and more.
• Whatever the case, Venngage's drag-and-drop free business plan generator lets anyone create a beautiful, professional business plan without any design experience.
• Share a public link for free from our online business plan creator. Don't worry. You can go back and edit your design at any time.

One-click branding with My Brand Kit

Show off important metrics with professional data visualizations

Collaborate with your whole team throughout the design process.

Business Plan Maker FAQs

How much does venngage's business plan builder cost.

Anyone can make a business plan for free and share a link to their work. Our Premium ($19/month) and Business ($49/month) plans include premium, professional business plan templates and features, plus access to multiple download formats.

How can I write my own business plan?

Your business plan can include these sections: executive summary, company description, market analysis, organization management, service/product line, marketing & sales, funding requests, financial projections, etc. Add sections to your business plan as you see fit — depending on the kind of plan you're creating. No matter the type of business plans you're making, Venngage has a template for that.

Can I download my business plan?

Yes! You can download your business plan in PNG, PDF, Interactive PDF, or PowerPoint formats (paid plans only). It's free to share a public link. It's also free to create an account and test out our online business plan maker with a free business plan template.

Wow your clients and investors at first sight — Create a convincing and winning business plan with Venngage's online business plan generator

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

Free Business Plan Generator

Do you still spend hours writing and creating a business plan? Not after today. Upmetrics’ free business plan generator simplifies writing a business plan and helps you create a comprehensive and compelling lean plan in seconds.

Sounds exciting? Let’s learn more about getting started with our free business plan generator and using it to draft your plan.

Using Upmetrics’ Free Business Plan Generator

Need help using the free business plan generator? Follow these step-by-step instructions to create a business plan using the free generator in no time.

Creating a business plan requires filling in 4 critical fields—company overview, marketing details, competitor information, and financial overview. Let’s start with the first.

1. Enter the Company Overview

Provide a company overview in approximately 3-4 sentences, including your business’s name, service offerings, USPs, mission, goals, and target market. Here’s an example for you:

2. Add Marketing Details

The next step—provide marketing details. Start by answering how your business plans to attract new customers and what you want to achieve with your business.

You may also include details about your marketing budget and preferred marketing channels. Here’s an example for your reference:

“i.e. We will attract customers through a strong online presence, social media marketing, and in-store promotions. Offering loyalty programs and hosting community biking events will help build a loyal customer base.”

3. Enter Competitor Information

After adding the marketing details, provide the name of your primary competitor(s) and explain how you are distinct from your competitors.

Describe whether your offerings have any competitive advantages or differentiators. Here’s how it can be done:

“i.e. Our primary competitor is ‘Wheels & Gears,’ but what sets us apart is our personalized customer service and expert bike repair services. We also differentiate ourselves by focusing on eco-friendly and sustainable products.”

4. Provide Financial Overview

Finally,—provide an overview of your business financials. Include what your startup costs are, what your financial strategy would be, and your first-year sales.

We are creating a lean business plan, so it may not require a detailed description of your business financials. Here’s an example for your understanding:

“i.e. Our expected business costs are $87,000 and that includes rent, inventory, equipment, and staff salaries. Our financial strategy is to minimize overhead costs and optimize inventory turnover. We project annual sales to reach $500,000 in the first year.”

5. Click on Generate a Business Plan

You’ve filled in all the necessary fields. It’s time to click “Generate a Business Plan” and see it yourself.

Your lean business plan is ready; you may make a few changes and go ahead with it or choose an AI business plan generator for comprehensive planning.

Make detailed business & financial plans in minutes with

Upmetrics’ AI Business Plan Generator

Plans starting from $7/month

Business Plan Example that will Inspire You

We created this sample CycleWave business plan using Upmetrics’ free generator. Remember, it’s your first draft—you can always go back and re-generate or edit it later.

CycleWave Business Plan

Introduction

Welcome to the business plan for CycleWave, a bicycle retail and repair shop dedicated to providing high-quality bikes and expert maintenance services. Our mission is to promote a healthier and more sustainable lifestyle through cycling while offering exceptional customer service.

Market Overview

The cycling industry is experiencing significant growth, driven by increasing interest in health, sustainability, and alternative transportation methods.

The target market includes cycling enthusiasts, commuters, and local community members.

Strong market potential due to growing awareness of the need for eco-friendly and sustainable products.

Competitive Analysis

Primary competitor: Wheels & Gears.

Differentiation factors

• Personalized customer service
• Expertise in bike repair services
• Focus on eco-friendly and sustainable products.

Highlight the advantages of our unique offerings to attract customers away from competitors.

Marketing Plan

Utilize a solid online presence through a professional website to showcase our products, services, and promotions. Implement social media marketing strategies to engage with customers and build brand awareness.

Host community biking events to foster a sense of belonging and attract potential customers. Offer loyalty programs to incentivize repeat business and build a loyal customer base.

Operational Plan

Secure a suitable retail location with ample space for displaying bicycles and providing repair services. Employ knowledgeable staff with expertise in bike repair and customer service.

Create efficient processes for inventory management and maintenance repairs to ensure fast turnaround times. Maintain an attractive and organized store layout to enhance the customer experience.

Financial Plan

Our expected business costs are $87,000, allocated as follows:

• Rent: $30,000
• Inventory: $40,000
• Equipment: $10,000
• Staff Salaries: $7,000

We project annual sales to reach $500,000 in the first year, allowing us to gradually cover expenses and increase profitability.

Conclusion and Call to Action

In conclusion, CycleWave aims to thrive in the bicycle retail and repair industry by offering high-quality bikes, expert maintenance services, personalized customer care, and eco-friendly products. Join us in promoting a healthier and more sustainable lifestyle through cycling.

If you want to support our mission and become part of our cycling community, please contact us or visit our store today!

Upgrade to Make Comprehensive Plans in Minutes

Upmetrics’ free business plan generator is undoubtedly a better way to business plan. However, you may need an upgrade to create a comprehensive, investment-ready plan.

AI business plan generator like Upmetrics make business plan creation a breeze with their modern AI-powered features.

AI writing assistant helps you write, rewrite, edit, or translate sections of your plan, while the forecasting assistant provides revenue and expense stream suggestions for accurate projections.

You also get to access the massive library of 400+ sample business plans . So, all you need to do is export a template into the editor and start preparing your plan with AI .

What are you waiting for? Business planning starts @ $7 per month.

Build your Business Plan Faster

with step-by-step Guidance & AI Assistance.

Frequently Asked Questions

What is a free business plan generator.

The free business plan generator is a free-to-use version of Upmetrics’ business plan software. It uses AI-powered features to help users create a business plan. Since it can only create a lean business plan, you need Upmetrics’ advanced features for detailed planning.

Is it really free to use?

Yes, Upmetrics’ free business plan generator is 100% free to use, but the features that come with it are also limited. So, you may consider getting a premium subscription for advanced business planning features.

What information will I need to provide to use the tool?

You must fill in the necessary details to create a business plan using the free generator. The information required may include a company overview, marketing details, competitor information, and a financial overview.

What type of businesses should use your free business plan tool?

Startups and small businesses starting up or operating on tight budgets should consider getting a free business planning tool to create a lean business plan.

Is there a limit to how many plans I can create with your software?

No. As of now, there’s no limit to the number of business plans you can create using Upmetrics’ free business plan generator.

Is a sample plan as useful as creating my own custom version?

Using a sample business plan or template is one of the easiest ways to create your business plan. All you need to do is export a template into the editor and start preparing your plan with AI.

The Quickest Way to turn a Business Idea into a Business Plan

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5 Best Business Plan Software in 2022

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When you’re starting a business, developing a strong business plan will be one of the first steps you take. Your business plan will cover everything from a detailed explanation of your products or services and pricing model to at least three years of financial projections—plus much more. Therefore, whether you’re not sure how to get started or you’re just looking to make the process easier, you may want to turn to business plan software for help.

In this guide, we'll break down five of the best business plan software options—discussing their pros, cons, features, pricing, and more—so you have all the information you need to decide which solution is right for your small business.

Looking for tools to help grow your business?

Tell us where you're at in your business journey, and we'll direct you to the experience that fits.

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The 5 best business plan software options

The right business plan software will make the process of writing your business plan much simpler. Like many business software solutions, however, there are a number of different business plan software options out there—each of which has a unique set of features, user experience, and price.

This being said, if you're looking for a place to start your search for the best business plan software, you can explore the five top options below:

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

1. LivePlan

Best overall business plan software.

If you want template-rich, modern-feeling business plan software, then LivePlan may be the right pick for you. LivePlan excels with their user interface, which feels updated and slick, and also offers intuitive, easy-to-use features and options.

Their step-by-step instruction will help you kick things off from the beginning, and you can take advantage of their online learning center to continue to gain business skills.

Affordable plans, including pay-as-you-go option

No long-term contracts or cancellation fee; 60-day money-back guarantee

Modern, intuitive interface; cloud-based, can be used on Mac, PC, as well as tablets

Ability to create unlimited plans in one account; over 500 customizable templates

Variety of business resources including video tutorials, step-by-step instruction, and general customer support

Limited integration options

Challenging to enter your own financial modeling projections

Can be difficult to learn

Ability to create an unlimited number of business plans on one account

More than 500 business plan templates spanning various industries

Integration with Xero and QuickBooks Online

Real-time tracking of financial data with accounting integrations

Ability to export your business plan to Word or PDF

Expert advice and step-by-step instruction included

Performance dashboards for tracking against budgets and sales goals

Ability to create and export a one-page pitch executive summary

Annual plan: $15 per month, billed every 12 months

Six-month plan: $18 per month, billed every six months

Pay-as-you-go plan: $20 per month, billed once every month

2. GoSmallBiz

Best for multiple business management tools in one platform.

Next on our list of the best business plan software options is GoSmallBiz, which is much more than just a business plan software. With GoSmallBiz, you have access to business continuity planning software with features that cover creating a roadmap, working through business and legal forms, building a website, and more.

In this way, GoSmallBiz is great for startups or newer businesses looking to access multiple business management tools through one platform.

Unlimited business consultation and extensive library of online resources

Multiple business tools in one software

Website consultation analysis and business assessment

Industry-specific business plan templates with emphasis on financial projections and statements

Expensive monthly cost compared to alternatives

Limited business plan features

Entire business plan can only be exported to Microsoft Word

Outdated interface

Industry-specific business plan templates with step-by-step building wizard

Ability to create financial statements and projections

Free website hosting and website builder

Customer relationship manager with integration with MailChimp

Digital marketing dashboard with social media and Google Analytics integrations

HR document builder

Corporate minutes writer

Business documents library

Business courses library

Unlimited business consultation

$39 per month, no contracts, free cancellation

Best for simple, fast business plan creation.

If you're looking for free business plan software, Enloop will be one of your closest options—they offer an all-inclusive seven-day free trial, no credit card required. Additionally, unlike some of the other options on our list, Enloop is strictly dedicated to business plan creation, including automated text writing, financial forecast comparisons, and a real-time performance score that tracks your progress.

This being said, if you'd prefer the most straightforward, fast, and simple way to write your business plan, Enloop will be a platform worth considering.

Simple and straightforward software, solely dedicated to business plan creation

Seven-day free trial

Automatic text generation available to streamline the writing process

Affordable plans with annual discount option

Limited additional educational resources

Only one template option

No integration options

Ability to create three business plans with customizable text, images, tables, charts, and over 100 currency symbols and formats

Includes automatic text generation for each plan section that you can then customize

Automatically generated financial statements

Includes financial performance comparison analysis (using three ratios with Detailed plan and 16 with Performance plan)

Real-time performance score to track your progress

Ability to invite users to edit (two with Detailed plan, five with Performance plan)

Pass/fail report and certificate to help you identify issues with your plan

Free plan: Seven-day free trial with no credit card required

Detailed plan: $19.95 per month or $11 per month, paid annually

Performance plan: $39.95 per month, or $24 per month, paid annually

Best for startups looking to acquire funding or find investors.

Part of the Startups.com suite, Bizplan gets top marks for their user interface—it’s intuitive, easy to use, and modern. You’ll work with a step-by-step business plan builder to get exactly what you’d like from your business plan. It may remind you of a modern website builder, since it has drag-and-drop tools to build templates.

Moreover, for one subscription fee, you have access to all of the tools in the Startups.com network, including self-guided courses, how-to guides, masterclass videos, and more. All in all, with a direct connection to Fundable, Bizplan is a top business plan software option for startups looking to acquire funding and find investors.

Subscription gives you access to all Startups.com tools

Lifetime access subscription option

User-friendly drag-and-drop business plan builder

Excellent educational resources

Connection to Fundable great for businesses looking for capital

No free trial

No templates based on industry

No mobile access

Drag-and-drop templates for business plan building

Financial command center to track all business financials in one place

Unlimited account collaborators

Ability to share business plan online with investors

Online resources including self-guided courses, masterclass videos, how-to guides, mentorship access

Unlimited software use for Fundable, Launchrock, and Startups.com

Monthly plan: $29 per month

Annual plan: $20.75 per month, billed at $249 per year

Lifetime access: $349 one-time fee

5. PlanGuru

Best for financial planning and budgeting.

Finally, for some of the strongest financial features among business plan software options, including budgeting and forecasting, you might check out PlanGuru. Whereas the other solutions we've reviewed were first and foremost focused on writing a business plan, PlanGuru is dedicated to business financial planning —providing the tools you need to create budgets, financial forecasts, reports, and more.

Therefore, if you need a software solution that can streamline the financial piece of your business planning processes, PlanGuru will certainly have the most to offer.

Extensive financial tools and detailed forecasting, budgeting, and reporting capabilities

Substantial library of resources

Cloud-based and desktop options

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

Expensive, especially for additional users

Only focuses on the financial aspect of business planning; no templates or tools for basic business plan writing

Difficult to use without prior financial knowledge

Cloud-based version of software, as well as locally installed Windows version (desktop version has a few more features)

Works with QuickBooks Online, Xero, and Excel

Budgeting and forecasting for up to 10 years

Over 20 standard forecasting methods

Formula builder to create custom methods

Ratios and KPIs

Dashboard and reporting tools

Help guides, video tutorials, knowledgebase, and live U.S.-based customer support

14-day free trial

$99 per month (additional users $29 per month)

$899 per year (additional users $299 per year)

What to look for in business plan software

Ultimately, it's up to you to decide, which, if any, of the best business plan software solutions on our list is right for your business.

So, if you're trying to figure out how to choose between the various options out there, it might be helpful to compare your top choices based on the following criteria:

Features: As we've seen different business plan software solutions offer different features. You'll want to look carefully at the feature list of any software and determine what features are most important for your business needs. Do you need an extensive library of templates with detailed customization? Would you prefer software that includes an online learning center for business skills? Are you looking for a solution that combines business plan writing with other tasks? It may be useful to list out your ideal feature set, so you can compare individual software plans to that list.

Price: Although you might be able to find some free business plan software options (or at the very least, free trials), in most cases, you'll need to pay a subscription fee to access the platform you choose. Therefore, you'll want to think about what your budget is for this business tool and what type of software is most cost-effective for your needs.

User experience: User experience can vary widely among different business plan software options. You’ll find some programs that are newer or have been recently updated. Others might have the kind of interfaces that felt new years ago but are now pretty out of date—and, subsequently, make them a little harder to use. The right user experience for your needs is genuinely a matter of opinion and comfort—nevertheless, it's worth testing thoroughly testing out a platform to ensure that it can truly work for you before investing in a monthly or annual subscription.

The bottom line

There's no doubt that properly crafting your business plan is important for the future growth and success of your small business. Luckily, the right business plan software should make the process much simpler.

This being said, whether you opt for one of the best business plan software options listed here, or another platform entirely, you'll want to take the time to compare multiple solutions and ensure you choose the one that's right for your business.

As we mentioned, it can be helpful to think about the features you're looking for, your budget, and your user-experience preferences ahead of time—that way, you'll have a set of criteria in mind as you explore different solutions.

Ultimately, perhaps the best thing you can do to find the right software is to actually test out the platforms themselves—either by using a free trial or a money-back guarantee.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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Write a business plan

Download free business plan templates and find help and advice on how to write your business plan.

Business plan templates

Download a free business plan template on The Prince’s Trust website.

You can also download a free cash flow forecast template or a business plan template on the Start Up Loans website to help you manage your finances.

Business plan examples

Read example business plans on the Bplans website.

How to write a business plan

Get detailed information about how to write a business plan on the Start Up Donut website.

Why you need a business plan

A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.

A business plan helps you to:

• clarify your business idea
• spot potential problems
• set out your goals
• measure your progress

You’ll need a business plan if you want to secure investment or a loan from a bank. Read about the finance options available for businesses on the Business Finance Guide website.

It can also help to convince customers, suppliers and potential employees to support you.

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• Business Tips

Startup Business Plan and Projection Guide for Small Businesses

• September 20, 2024

When launching a new business, there are many steps that you need to take, from choosing the right legal structure to getting a location and more. However, before those steps are taken, one of the most important things you can do for a strong start is to create your startup business plan and financial projections . With these in place, you’ll be on track to successfully launch and grow your business .

In this guide, you’ll learn why a startup business plan and financial projections are essential for your business, the components of a great startup business plan, and resources to help you get the financing you need to launch the business of your dreams.

Why is a startup business plan necessary?

It’s often said that when you launch a new business without a plan, it’s like taking a long-distance road trip without using a GPS or map. You may eventually get where you’re going, but it will take a whole lot longer and cost you a whole lot more along the way.

The time you spend clarifying your vision and goals, researching competition, and outlining plans to reach your target audience will give you the roadmap you need to launch successfully. Your plan and projections allow you to:

• Identify opportunities and risks: Your plan and projections help you spot potential strengths and weaknesses in your business model. For example, as you analyze your business idea and market viability, you can uncover potential risks , such as unforeseen expenses and dips in sales. Once you identify risks, you can plan for strategies to reduce them.
• Make better-informed decisions : Your business plan and projections give you a glimpse into the “hows-and-whys” of your business; You’ll develop insights on the goods and services you’ll provide, how these are different or better than what’s already available, your revenue goals, and the potential financial health of your business. This helps you make better decisions for everything from where to locate your business to staffing, inventory, and marketing. As you share your business idea with others, you’ll also find that friends, family members, mentors, and potential customers and investors will have a lot of ideas about how to run your business and what you should offer. With a solid plan in-hand, you can focus on the suggestions that will support and strengthen your operations and offerings.
• Better plan and allocate resources: Projections anticipate your future needs, like funds for inventory, staffing, and marketing . Your projections help you identify and plan for revenue cycles and potential shortfalls, such as seasonal cycles , so you can use resources more effectively. This ensures that you have the funds necessary for equipment, employees, and inventory, like by getting a working capital loan or financing for equipment and inventory .
• Communicate your vision and goals in compelling ways: Your business plan is a communication tool that outlines your goals, target market, and competitive advantages. With this, you can create a brief executive summary to share with potential investors, identify key points to develop into marketing and outreach materials, or to share your vision with new employees.

In addition, lenders rely on your plan and projections to assess the potential profitability of your venture. That’s why a thoughtful and thorough plan and projections can help you get a startup business loan to show that you understand your industry and have identified an opportunity. This creates credibility for you as a business owner – even before you’ve launched your amazing new business.

What are the components of a great startup business plan?

When you’re developing your startup plan , there will be two primary components: a narrative business plan and your financial projections – usually, for the first two years of business.

Your narrative business plan

This is where you tell the story of your business. Your narrative plan doesn’t need to be long or complex – many great business plans are only a few pages long. The key is to ensure that your information isn’t just concise, but that it’s also relevant and well-researched.

Be sure to include:

• The meat of your business: The goods or services you’ll offer, the opportunity in the market, and why you believe your business will leverage the opportunity. Guide the reader to picture your business. For example, state whether it will be an online-only or in-person business and explain those choices.
• Your vision and goals: Clearly define your goals for the shorter and longer terms. For example, you can think of it in terms of Year 1, Year 3, Year 5, and Year 10.
• Your target customers: Provide a detailed explanation of your key customers and be specific. For example, “Urban apartment dwellers in mid-size metro areas who are between 22-35 years old with household incomes between $60,000 and $90,000 and who follow at least one gardening influencer,” is more targeted than “everyone.”
• Competitive analysis: Who are your competitors, where are they, how do they reach target customers, and how will you gain your share of them? A thorough competitive analysis is one of the most important aspects of your plan – it can highlight opportunities and challenges that could be expensive.
• Marketing plans: Using your target-customer description and competitive analysis, you can create a cost-effective startup marketing plan . Through your research, you may find that the way you planned to reach your customers is already saturated by your competitors. Use this opportunity to get creative about reaching your customers .
• You and your team’s experience: Explain your experience in your field – anything that’s relevant to your business’s success. Make sure to address how you’ll fill additional skill or staffing needs. For example, will you hire employees , outsource skill-specific projects or functions, engage freelancers, or bring on seasonal temps?

Your startup financial projections

Your financial projections are your best forecast of how your business will do financially, if everything goes according to plan. This can be the most challenging part because many of the financial projections and documents will be new to you. The key is to give it your best shot, based on your research and everything you know about your planned business.

Lenders simply want to see that your financial projections are thoughtful, well-researched, and realistic. It’s also a good idea to create likely financial scenarios, as well as best-case and worst-case, to show how you’d be prepared in any situation.

Financial projections for a startup business typically include:

• The funds that you have available in-hand to launch your business.
• A two- or three-year projection of all revenue and expenses, broken down monthly and by category. This free template from SCORE is a good place to start.

There are excellent resources to support you

Throughout the country, there are many free and low-cost resources available to help small business owners launch and grow with strength and confidence. Wherever your business is located, you’ll likely find a nearby:

• Small Business Development Centers (SBDCs) : These organizations are located throughout the U.S., often on college campuses. They offer free business-advisement services, including review of your business plan and projections.
• SCORE offices : These organizations are in communities across the U.S. The volunteers and mentors are former business owners and executives who share their knowledge, insight, and experience with you. The SCORE website also has links to numerous templates, webinars, and local resources and events for small business owners.
• Business resources focused on the specific needs and opportunities for women, minorities, veterans, Native Americans, and more. These organizations give valuable data and insights to guide you as you develop your plan and provide mentoring or other special services along your business journey.
• Town, city, or county business-development agencies and Chambers of Commerce: Most local and regional governments have an economic- and/or business-development arm that can give you guidance on local initiatives or insight, as well as local data, to support your business plan’s research.
• Rural business-development offices , including USDA offices have data and resources that can benefit businesses in rural locations, so if your business falls into this category, reach out to learn more.

Pursuit is here to help small businesses at every stage

Preparation is essential for a successful business, so gather your ideas and research, and create your startup business plan and projections. Then, meet with someone from your local/regional SBDC, SCORE, or other business-development office for support. They’re seasoned professionals and business owners who can make the entire process easier for you.

As you’re developing your plan and projections, take a look at loans and a line of credit from Pursuit. Our products and services are tailored specifically to meet the needs of small businesses in every stage and we provide financing for businesses in New York ,  New Jersey ,  Pennsylvania , Connecticut , Illinois , Nevada , and Washington with a range of resources and help to support a strong launch and growth.

Contact us today to learn more.

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How to Create a Business Plan in Nigeria: Step-by-Step Guide with Templates

• by EMMA ONWUKA
• September 21, 2024 September 21, 2024

Creating a solid business plan is crucial for anyone looking to start or grow a business in Nigeria. A well-crafted business plan not only maps out your strategy but also demonstrates your vision to investors and stakeholders. It acts as a roadmap, guiding your business through challenges and helping you seize opportunities.

In this guide, we’ll walk you through how to create a business plan in Nigeria, with the essential components of a business plan and show you how to tailor it to succeed in Nigeria’s unique market. We’ll cover everything from market research to financial projections, ensuring you’re equipped to create a robust business plan that stands out.

Understand What a Business Plan Is

A business plan is a written document that outlines your business goals, strategies, and the steps you’ll take to achieve them. It serves as a blueprint for your business , guiding your decisions and helping you stay on track. In Nigeria, a strong business plan is essential for attracting investors, securing loans, and navigating the competitive market.

There are several types of business plans you can create, including:

• traditional business plan 
• lean business plan
• strategic plans.

Each type serves a specific purpose, from detailed planning to quick overviews, depending on your business needs and goals.

Why You Need a Business Plan in Nigeria

In Nigeria’s competitive business environment, having a business plan is not just a formality; it’s a necessity. A well-structured business plan gives you a clear roadmap for success, helping you navigate challenges and seize opportunities in the market. It also plays a crucial role in attracting investors and securing funding, as it shows potential backers that you’ve thought through every aspect of your business. Beyond that, a business plan ensures you meet legal and regulatory requirements in Nigeria, keeping your business compliant and avoiding costly penalties.

How to Create a Business Plan in Nigeria: Step-by-Step Guide

Conduct thorough market research.

Before you start writing your business plan in Nigeria, thorough research is essential. Conducting market research helps you understand the Nigerian market, identify opportunities, and anticipate challenges. You’ll want to analyze your competitors closely to see what they’re doing right and where you can outshine them. Identifying your target audience is another critical step; knowing who your customers are and what they need will shape your entire business strategy. As you gather relevant data and insights, you’ll build a solid foundation for a business plan that resonates with the Nigerian market and sets you up for success.

 2. Outline Key Components of a Business Plan

When developing a business plan in Nigeria, covering the key components is essential to ensure your plan is both comprehensive and compelling.

– Executive Summary: Start with the Executive Summary , where you provide a brief overview of your business concept, clearly stating your business goals and mission. This section is crucial as it sets the tone for the rest of your plan, giving readers a snapshot of what your business aims to achieve.

– Company Description: Next, move on to the Company Description, where you outline your business structure and ownership details. Here, you’ll also mention your business location and the facilities you have or plan to acquire. This section helps potential investors understand the foundation of your business.

– Market Analysis: The Market Analysis is where you dive deep into the industry. Discuss current market trends, identify your target market, and segment your customers. A thorough competitive analysis will also show that you understand your position in the Nigerian market and how you plan to differentiate your business from competitors. For more insight, explore how to carryout market analysis for a business plan

– Organization and Management: In the Organization and Management section, outline your organizational structure and introduce key members of your management team. Highlight their experience and how their expertise will drive the business toward success.

– Products or Services: The Products or Services section is your chance to showcase what you’re offering. Provide a detailed description of your products or services, focusing on your unique selling proposition (USP) that sets you apart in the marketplace.

– Marketing and Sales Strategy: Your Marketing and Sales Strategy should outline how you plan to reach your customers and the channels you’ll use for marketing. Include your sales tactics and explain how you plan to acquire and retain customers in the Nigerian market.

– Operational Plan: The Operational Plan is where you detail the day-to-day operations of your business. Describe your production processes, facilities, and any technology requirements you’ll need to run your business efficiently.

– Financial Plan: The Financial Plan is a critical component that includes your financial projections , such as income statements, cash flow, and balance sheets. Clearly outline your funding requirements and how you plan to raise capital for your business .

– Appendix: Finally, include an Appendix with supporting documents like resumes, permits, and legal documents. This adds credibility to your business plan and provides additional information that can help investors or partners make informed decisions.

3. Write the Business Plan

Writing a business plan in Nigeria can seem daunting, but with the right approach, it becomes manageable and even rewarding. To start, break down each section of your plan and tackle them one by one. Here are some tips to ensure you write each section effectively.

First, be clear and concise in your writing. Investors and stakeholders should be able to quickly grasp your business concept, goals, and strategies without wading through unnecessary jargon. For the Executive Summary, keep it brief but impactful, as this is often the first section that readers will see.

When writing the Company Description, focus on giving a detailed but straightforward overview of your business structure, ownership, and location. Use clear language to describe what your business does and its objectives in the Nigerian market.

In the Market Analysis :

• back up your statements with solid data.
• avoid making assumptions without evidence.
• clearly define your target market, customer segments, and competitive market.

For the Organization and Management section:

• highlight the strengths of your team.
• don’t just list names.
• explain what each member brings to the table and how their skills will drive your business forward.

When you get to the Products or Services section:

• be detailed yet focused.
• describe your offerings to showcases their value and your unique selling proposition (USP).
• ensure your potential customers and investors understand why your products or services stand out.

In your Marketing and Sales Strategy :

• outline actionable steps.
• Avoid vague statements.
• detail the specific channels you will use, and how you will attract and retain customers in Nigeria.

In the Operational Plan :

• provide a clear picture of how your business will run daily.
• include details about your production processes, facility requirements,
• and any technology you’ll need to streamline operations.

The Financial Plan should be realistic. Avoid overly optimistic projections and ensure your financial data is grounded in reality. Accurate and detailed financial forecasts are crucial for gaining the trust of investors.

To avoid common mistakes, steer clear of being too vague or overly optimistic. Don’t neglect market research or financial details. Always tailor your business plan to the Nigerian market, considering the local economic environment and consumer behavior.

Using templates and tools can also be incredibly helpful. There are many online resources available that can guide you through the process, providing structure and ensuring you don’t miss any critical components.

By following these tips and using the right tools, you’ll be well on your way to writing a business plan that is clear, effective, and tailored to succeed in Nigeria’s dynamic business environment.

4. Review and Refine the Plan

After writing your business plan in Nigeria, the next crucial step is to review and refine it. Revising your business plan isn’t just a one-time task; it’s something you should do regularly. The business environment in Nigeria can change rapidly, so updating your plan ensures it remains relevant and aligned with your goals. Take the time to go through each section, checking for clarity, accuracy, and completeness. Look out for any gaps or outdated information that could weaken your plan.

It’s also beneficial to seek feedback from mentors and advisors who understand the Nigerian market. These experts can provide valuable insights and point out areas for improvement that you might have missed. Don’t hesitate to ask for their input; a fresh set of eyes can make a big difference in the quality of your business plan.

5. Present the Business Plan

Once you’ve fine-tuned your plan, it’s time to present it to potential investors. Pitching your business plan is a critical moment in your entrepreneurial journey. When preparing for your presentation, focus on the key elements that will capture an investor’s interest. Highlight your business concept, market opportunity, competitive advantage, and financial projections. Be sure to explain how your business plan is specifically tailored to succeed in the Nigerian market.

During the presentation, keep your pitch concise and engaging. Use visuals where possible to help convey your message effectively. Investors are often looking for confidence and clarity, so practice your delivery until you can present your plan smoothly and with conviction. Remember, your goal is to convince them that investing in your business is not just viable, but a smart decision.

By regularly reviewing and refining your business plan and mastering your pitch, you’ll significantly increase your chances of securing the funding and support you need to make your business thrive in Nigeria.

6. Address Legal and Regulatory Considerations in Nigeria

When crafting a business plan in Nigeria, it’s vital to address legal and regulatory aspects to ensure your business operates smoothly and remains compliant. Navigating these requirements might seem daunting, but it’s essential for avoiding legal issues and laying a solid foundation for your business.

First, get familiar with the relevant regulations for your industry. Each sector in Nigeria has specific guidelines, from food safety laws enforced by NAFDAC to data protection rules for tech businesses. Understanding and adhering to these regulations helps you avoid penalties and operate within the legal framework.

A crucial step is registering your business. In Nigeria, this involves registering with the Corporate Affairs Commission (CAC). Learn how to register your business name in Nigeria with CAC to make your business official, protect your brand, and gain legal recognition. Depending on your business structure—whether a sole proprietorship, partnership, or limited liability company—the registration process will vary, but it’s crucial to complete it correctly.

Additionally, you’ll need to obtain any necessary licenses and permits specific to your industry and location. These ensure that your business meets all legal requirements and can operate without interruptions. Whether it’s a local government permit or industry-specific licenses, having these in place is essential for smooth operations.

By addressing these legal and regulatory considerations in your business plan, you set the stage for long-term success in Nigeria. Compliance not only keeps your business legally sound but also builds credibility with customers, investors, and partners who value transparency and adherence to the law.

Creating a business plan in Nigeria involves several important steps, from understanding what a business plan is to refining it for presentation. Throughout this guide, we’ve covered everything you need to know, including conducting market research, analyzing competitors, and understanding legal requirements. Now that you have a comprehensive overview, it’s time to take action. Start drafting your business plan today, and use it as a roadmap to guide your business towards success in the Nigerian market.

For specific examples, check out our poultry business plan (sample and template) and fish farming business plan (sample) . These samples can provide valuable insights and help you tailor your plan to fit your industry. If you’re venture into tech or phone accessories, explore our business plan for mobile phone accessories and spare parts to get a head start.

For more detailed guidance, check out our resource on how to start a business in Nigeria . This resource will provide additional insights and strategies to support your business planning and growth.

Q1. What is the purpose of a business plan?

A: A business plan serves as a blueprint for your business, outlining your goals, strategies, and the steps you need to take to achieve them. It’s essential for securing funding, attracting investors, and ensuring your business’s long-term success.

Q2. How often should I update my business plan?

A: It’s a good practice to review and update your business plan at least once a year or whenever significant changes occur in your business or the market environment.

Q3. Do I need a business plan to start a small business in Nigeria?

A: Yes, even for small businesses, having a business plan is crucial. It helps you clarify your ideas, plan your finances, and set clear objectives.

Q4. Can I use a business plan template?

A: Absolutely! Using a template can help structure your plan and ensure you don’t miss any critical sections. However, make sure to tailor it to your specific business needs.

Ready to create your business plan? Download our free business plan template to get started. If you need personalized assistance, don’t hesitate to seek professional help or consider consulting services that specialize in Nigerian businesses. Taking this step could be the key to transforming your business idea into a thriving venture.

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What We Know About Kamala Harris’s $5 Trillion Tax Plan So Far

The vice president supports the tax increases proposed by the Biden White House, according to her campaign.

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By Andrew Duehren

Reporting from Washington

In a campaign otherwise light on policy specifics, Vice President Kamala Harris this week quietly rolled out her most detailed, far-ranging proposal yet: nearly $5 trillion in tax increases over a decade.

That’s how much more revenue the federal government would raise if it adopted a number of tax increases that President Biden proposed in the spring . Ms. Harris’s campaign said this week that she supported those tax hikes, which were thoroughly laid out in the most recent federal budget plan prepared by the Biden administration.

No one making less than $400,000 a year would see their taxes go up under the plan. Instead, Ms. Harris is seeking to significantly raise taxes on the wealthiest Americans and large corporations. Congress has previously rejected many of these tax ideas, even when Democrats controlled both chambers.

While tax policy is right now a subplot in a turbulent presidential campaign, it will be a primary policy issue in Washington next year. The next president will have to work with Congress to address the tax cuts Donald J. Trump signed into law in 2017. Many of those tax cuts expire after 2025, meaning millions of Americans will see their taxes go up if lawmakers don’t reach a deal next year.

Here’s an overview of what we now know — and still don’t know — about the Democratic nominee’s views on taxes.

Higher taxes on corporations

The most recent White House budget includes several proposals that would raise taxes on large corporations . Chief among them is raising the corporate tax rate to 28 percent from 21 percent, a step that the Treasury Department estimated could bring in $1.3 trillion in revenue over the next 10 years.

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United Airlines to offer free Wi-Fi using Starlink from Elon Musk's SpaceX

United Airlines  said Friday that it plans to offer inflight Wi-Fi for free using Starlink from  Elon Musk ’s SpaceX on its hundreds of jetliners, the biggest inflight internet deal yet for the satellite service provider.

The team-up comes as airlines have been investing in faster inflight Wi-Fi, sometimes offering it for free, in a bid to attract higher-paying customers like business travelers.

Delta Air Lines  announced in early 2023 that  onboard internet  would be free for members of its SkyMiles loyalty program.  Hawaiian Airlines , which has a  deal with Starlink , also offers complimentary inflight Wi-Fi.  JetBlue Airways  has offered free Wi-Fi for years.

SpaceX also previously made a deal with semi-private airline JSX.

United currently offers inflight internet from a hodgepodge of providers, including  ViaSat  and Panasonic, and charges loyalty program members $8 and everyone else $10 for access on domestic and short-haul international flights.

The carrier said it expects to have Starlink on its more than 1,000 planes over the “next several years” with the first passenger flights outfitted with the service starting early next year. United said the Wi-Fi will offer “gate-to-gate” connectivity.

United praised SpaceX’s satellite service, saying it provides “internet access around the world, including over oceans, polar regions and other remote locations previously unreachable by traditional cell or Wi-Fi signals,” a selling point for the U.S. airline with the most service over both the Atlantic and Pacific.

SpaceX has steadily expanded its Starlink network and product offerings since its debut in 2020. There are currently about 6,000 Starlink satellites in orbit that connect more than 3 million customers in 100 countries, according to the company. SpaceX initially targeted consumer customers, but has expanded into other markets, including aviation.

More from CNBC:

• Biden targets Shein, Temu with new rules to curb alleged ‘abuse’ of U.S. trade loophole
• Oracle’s Larry Ellison briefly tops Jeff Bezos to become world’s second-richest person
• Tiger Global plans to join OpenAI’s funding round at more than $150 billion valuation

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