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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.

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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.

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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:

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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.

On a similar note...

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• 5 Best Business Plan Software and Tools in 2023 for Your Small Business

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change.

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A business plan can do a lot for your business. It can help you secure investors or other funding. It can give your company direction. It can keep your finances healthy. But, if we’re being honest, it can also be a pain to write.

Luckily, you don’t have to start from scratch or go it alone. Business plan software and services can help you craft a professional business plan, like our top choice LivePlan , which provides templates, guidance, and more.

You’ve got quite a few choices for business plan help, so we’re here to help you narrow things down. Let’s talk about the best business plan tools out there.

• LivePlan : Best overall
• BizPlanBuilder : Most user-friendly
• Wise Business Plans : Best professional service
• Business Sorter : Best for internal plans
• GoSmallBiz.com : Most extra features
• Honorable mentions

Business plan software 101

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LivePlan: Best overall business plan software

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. *With annual billing

LivePlan has been our favorite business plan software for a while now, despite the stiff competition.

There’s a lot to like about LivePlan. It has pretty much all the features you could want from your business plan software. LivePlan gives you step-by-step instructions for writing your plan, helps you create financial reports, lets you compare your business’s actual financials to your plan’s goals, and much more. And if you ever need inspiration, it includes hundreds of sample business plans that can guide your writing.

LivePlan software pricing

But the best part? You get all that (and more) at a very competitive price. (You can choose from annual, six-month, or monthly billing.) While LivePlan isn’t quite the cheapest business plan builder out there, it’s not too far off either. And if comes with a 60-day money back guarantee. So there’s no risk in trying LivePlan out for yourself.

With a great balance of features and cost, LivePlan offers the best business plan solution for most businesses.

BizPlanBuilder: Most user-friendly

Need something easy to use? BizPlanBuilder fits the bill.

BizPlanBuilder doesn’t have a flashy, modern user interface―but it does have a very clear, intuitive one. You’ll be able to see your plan’s overall structure at a glance, so you can quickly navigate from your title page to your market trend section to that paragraph on your core values. And as you write, you’ll use a text editor that looks a whole lot like the word processing programs you’re already familiar with.

BizPlanBuilder software pricing

Data effective 3/13/23. At publishing time, amounts, rates, and requirements are current but are subject to change. Offers may not be available in all areas.

BizPlanBuilder also offers lots of helpful guidance for actually writing your plan. It gives you pre-written text, in which you just have to fill in relevant details. It offers explanations for what information you need to include in each section of your plan and way. It even gives you helpful tips from experts, so you’ll have all the information you need to plan like a pro.

So if you want planning software with almost no learning curve, you’ll like BizPlanBuilder.

Wise Business Plans: Best professional service

• Custom quote

Unlike all the other companies on this list, Wise Business Plans doesn’t offer software. Instead, it offers professional business plan writing services―meaning someone does all the hard work for you.

Now, you might think that sounds expensive―and you’re probably right (you have to request a custom quote for your plan). But there’s a lot to be said for expertise, and Wise Business Plans has plenty of that. Your business plan will get written by an experienced writer (with an MBA, no less). They’ll get information from you, do their own research, and then write your plan. You get one free revision, and you can always pay for more.  

Wise Business Plans service pricing

Your end result will be a polished, entirely original business plan. (You can even get printed copies.) And best of all, you won’t have to spend your precious time working on the plan yourself. Wise Business Plans takes care of all the hard parts, and makes your business look good while doing it. Sounds like a service worth paying for, right?

Put simply, if you want the most professional business plan possible, we recommend using Wise Business Plans’s writing service.

Business Sorter: Best for internal plans

Many businesses need plans to show to people outside the company (to get financing, for example). But what if you just need a plan for internal use? In that case, we suggest Business Sorter.

Business Sorter uses a unique card-based method to help you craft the perfect business plan. (You can watch a demo video to see how it works.) You’ll plan some of the usual things, like finances and marketing. But Business Sorter also lets you make plans for specific teams and team members. It also emphasizes more internal matters, like operations, that might get overlooked in a business plan for outsiders.

Business Sorter software pricing

After you’ve made your business plan, Business Sorter also helps you stay accountable to it. You can create tasks, give them deadlines, and assign them to team members―giving you basic project management tools to make sure your business plans become business actions. (Oh, and did we mention that Business Sorter has the lowest starting prices of any software on this list?)

It all adds up to a business plan software that works great for internal planning.

GoSmallBiz: Most extra features

Want to get way more than just business planning software? Then you probably want GoSmallBiz.

See, GoSmallBiz offers business plan software as part of its service―but it’s just one part of a much bigger whole. You also get everything from discounts on legal services to a website builder to a CRM (customer relationship manager) to business document templates. And more. In other words, you get just about everything you need to get your startup off the ground.

GoSmallBiz software pricing

Don’t worry though―you still get all the business planning help you need. GoSmallBiz gives you business plan templates, step-by-step instructions, and the ability to create financial projections. And if you get stuck, GoSmallBiz will put you in touch with experts who can offer advice.

If you want business planning and much, much more, give GoSmallBiz a try.

• PlanGuru : Best financial forecasting
• EnLoop : Cheapest tool for startups

We recommend the software above for most business planning needs. Some businesses, though, might be interested in these more specialized planning software.

Honorable mention software pricing

PlanGuru: Best financial forecasting features

PlanGuru is pretty pricey compared to our other picks, but you might find its forecasting features worth paying for. It has more forecasting methods than other software (over 20) plus it lets you forecast up to 10 years.

EnLoop: Cheapest tool for startups

EnLoop doesn’t have our favorite features or interface, but it does have really, really low pricing plus a seven-day free trial. It's the most affordable software for startup business planning and still provides all the essential features like financial analysis, team collaboration, charting, and more.

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. * With annual billing

Several of our previous favorite planning software, including BusinessPlanPro and StratPad, seem to have gone out of business.

A business plan is a written, living document that tells the story of your business and what you plan to do with it. It serves as the source of truth for you—the business owner—as well as potential partners, employees, and investors, but it also serves as a roadmap of what you want your business to be.

Why you need a business plan

While some small-business owners don’t see the point of creating a formal business plan, it can have some concrete benefits for your business. For example, one 2016 study found that business owners with written plans are more successful than those that don’t. 1

Still too vague? Then let’s get specific.

If you ever seek business funding (from, say, banks, angel investors , or venture capitalists ), you’ll have to prove that your business deserves the money you want. A formal business plan―complete with financial data and projections―gives you a professional document you can use to make your case. (In fact, most potential investors will expect you to have a business plan ready.)

Even if you’re not seeking funding right now, a business plan can help your business. A formal plan can guide your business’s direction and decision making. It can keep your business accountable (by, for example, seeing if your business meets the financial projections you included). And a formal plan offers a great way to make sure your team stays on the same page.

What to include in your business plan

Not all business plans are created equal. To make a really useful business plan, you’ll want to include a number of elements:

• Basic information about your business
• Your products/services
• Market and industry analysis
• What makes your business competitive
• Strategies and upcoming plans
• Your team (and your team’s background)
• Current financial status
• Financial and market projections
• Executive summary

Of course, you can include more or fewer elements―whatever makes sense for your business. Just make sure your business plan is comprehensive (but not overwhelming).

How business plan software can help

With so many elements to include, business plan creation can take a while. Business plan software tries to speed things up.

Most business plan software will include prompts for each section. In some cases, you can just fill in your business’s specific information, and the software will write the text for you. In other cases, the software will give you specific guidance and examples, helping you write the text yourself.

Plus, business plan software can help you stay organized. You’ll usually get intuitive menus that let you quickly flip through sections. So rather than endlessly scrolling through a long document in a word processor, you can quickly find your way around your plan. Some software even lets you drag and drop sections to reorganize your plan.

Sounds way easier than just staring at a blank page and trying to start from scratch, right?

Choosing business plan software

To find the right business plan builder for your business, you’ll want to compare features. For example, would you rather write your own text, getting prompts and advice from your software? Or would you rather go with a fill-in-the-blank method?

Likewise, think about the elements you need. If your plan will have a heavy focus on finances, you’ll want to choose business plan software with robust financial projection features. If you care more about market and competitor analysis, look for software that can help with that research.

You may also want to find business plan software that integrates with your business accounting software . Some plan builders will import data from Xero, QuickBooks, etc. to quickly generate your financial data and projections.

And of course, you’ll want to compare prices. After all, you always want to end up with software that fits your business budget.

The right business plan software can make your life easier. With LivePlan ’s wide breadth of features and online learning tools, you can’t go wrong. Plus, BizPlanBuilder 's one-time pricing makes it easy to invest while Business Sorter has a low starting cost. And if you're business is looking to grow, GoSmallBiz and Wise Business Plans will scale with you.

But of course, different companies have different needs. So shop around until you find the software that’s best for you and your business.

Now that you've got a business plan, take a look at our checklist for starting a small business.  It can help you make sure you have everything else you need to get your startup off to a good start!

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Creating a business plan can take anywhere from a couple hours to several weeks. Your timeline will depend on things like the elements you choose to include, whether you use software or hire a writing service, and how much research goes into your plan.

That said, much of the business plan software out there brags that it can help you create a fairly detailed plan in a few hours. So if you’re going the software route, that can help you set your expectations.

If you want to get the most out of your business plan, you should update it on a regular basis―at least annually. That way, you can continually refer to it to inform your company’s strategies and direction.  

At the very least, you should update your business plan before you start looking for a new round of funding (whether that’s with investors or lenders).

Thanks to business plan software, you can easily write your own business plan rather than pay someone to do it for you. And in most cases, software will cost you less than a professional business plan service.

There are some times you might want to go with a service though. If time is tight, you might find that it’s worth the cost of a service. Or if you’ve got big investor meetings on the horizon, you might want the expertise and polish that a professional service can offer.

Ultimately, you’ll have to decide for yourself whether business plan software or a business plan service will work better for your company.

Methodology

We ranked business plan software and tools based on features, pricing and plans, and connections to project management and other services. The value of each plan and service, along with what it offers, was a big consideration in our rankings, and we looked to see if what was offered was useful to small businesses or just extra. The final thing we looked at was the ease of use of the software to see if it's too complex for small businesses.

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Sources 1. Harvard Business Review, “ Research: Writing a Business Plan Makes Your Startup More Likely to Succeed .” Accessed March 13, 2023.

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We believe that the skills and tools that power startups and entrepreneurs should be accessible to everyone. It's so important that we've shared thousands of expert articles and useful resources for growing a business. For us, this part of what we do isn't an afterthought or a side project. It's at the core of our mission—to help people succeed in business. Whether you're looking for ideas on starting a small business, seeking funding for your venture, or figuring out how to scale without losing touch with your customers, we've got the roadmap.

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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A business plan is a document that outlines a company's goals and the strategies to achieve them. It's valuable for both startups and established companies. For startups, a well-crafted business plan is crucial for attracting potential lenders and investors. Established businesses use business plans to stay on track and aligned with their growth objectives. This article will explain the key components of an effective business plan and guidance on how to write one.

Key Takeaways

• A business plan is a document detailing a company's business activities and strategies for achieving its goals.
• Startup companies use business plans to launch their venture and to attract outside investors.
• For established companies, a business plan helps keep the executive team focused on short- and long-term objectives.
• There's no single required format for a business plan, but certain key elements are essential for most companies.

Investopedia / Ryan Oakley

Any new business should have a business plan in place before beginning operations. Banks and venture capital firms often want to see a business plan before considering making a loan or providing capital to new businesses.

Even if a company doesn't need additional funding, having a business plan helps it stay focused on its goals. Research from the University of Oregon shows that businesses with a plan are significantly more likely to secure funding than those without one. Moreover, companies with a business plan grow 30% faster than those that don't plan. According to a Harvard Business Review article, entrepreneurs who write formal plans are 16% more likely to achieve viability than those who don't.

A business plan should ideally be reviewed and updated periodically to reflect achieved goals or changes in direction. An established business moving in a new direction might even create an entirely new plan.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. It allows for careful consideration of ideas before significant investment, highlights potential obstacles to success, and provides a tool for seeking objective feedback from trusted outsiders. A business plan may also help ensure that a company’s executive team remains aligned on strategic action items and priorities.

While business plans vary widely, even among competitors in the same industry, they often share basic elements detailed below.

A well-crafted business plan is essential for attracting investors and guiding a company's strategic growth. It should address market needs and investor requirements and provide clear financial projections.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, gathering the basic information into a 15- to 25-page document is best. Any additional crucial elements, such as patent applications, can be referenced in the main document and included as appendices.

Common elements in many business plans include:

• Executive summary : This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
• Products and services : Describe the products and services the company offers or plans to introduce. Include details on pricing, product lifespan, and unique consumer benefits. Mention production and manufacturing processes, relevant patents , proprietary technology , and research and development (R&D) information.
• Market analysis : Explain the current state of the industry and the competition. Detail where the company fits in, the types of customers it plans to target, and how it plans to capture market share from competitors.
• Marketing strategy : Outline the company's plans to attract and retain customers, including anticipated advertising and marketing campaigns. Describe the distribution channels that will be used to deliver products or services to consumers.
• Financial plans and projections : Established businesses should include financial statements, balance sheets, and other relevant financial information. New businesses should provide financial targets and estimates for the first few years. This section may also include any funding requests.

Investors want to see a clear exit strategy, expected returns, and a timeline for cashing out. It's likely a good idea to provide five-year profitability forecasts and realistic financial estimates.

2 Types of Business Plans

Business plans can vary in format, often categorized into traditional and lean startup plans. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

• Traditional business plans : These are detailed and lengthy, requiring more effort to create but offering comprehensive information that can be persuasive to potential investors.
• Lean startup business plans : These are concise, sometimes just one page, and focus on key elements. While they save time, companies should be ready to provide additional details if requested by investors or lenders.

Why Do Business Plans Fail?

A business plan isn't a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections. Markets and the economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All this calls for building flexibility into your plan, so you can pivot to a new course if needed.

How Often Should a Business Plan Be Updated?

How frequently a business plan needs to be revised will depend on its nature. Updating your business plan is crucial due to changes in external factors (market trends, competition, and regulations) and internal developments (like employee growth and new products). While a well-established business might want to review its plan once a year and make changes if necessary, a new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is ideal for quickly explaining a business, especially for new companies that don't have much information yet. Key sections may include a value proposition , major activities and advantages, resources (staff, intellectual property, and capital), partnerships, customer segments, and revenue sources.

A well-crafted business plan is crucial for any company, whether it's a startup looking for investment or an established business wanting to stay on course. It outlines goals and strategies, boosting a company's chances of securing funding and achieving growth.

As your business and the market change, update your business plan regularly. This keeps it relevant and aligned with your current goals and conditions. Think of your business plan as a living document that evolves with your company, not something carved in stone.

University of Oregon Department of Economics. " Evaluation of the Effectiveness of Business Planning Using Palo Alto's Business Plan Pro ." Eason Ding & Tim Hursey.

Bplans. " Do You Need a Business Plan? Scientific Research Says Yes ."

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

Harvard Business Review. " How to Write a Winning Business Plan ."

U.S. Small Business Administration. " Write Your Business Plan ."

SCORE. " When and Why Should You Review Your Business Plan? "

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• The answers you need - Over 9,000 industry profiles included so you have real numbers from real businesses like yours to guide your decisions
• Formats lenders prefer - Use familiar formatting tools to customize the overall appearance of your plan. Then create an output in the preferred format of bankers and SBA approved lenders.
• Fool proof error check - The Plan Review feature checks all your data twice for a flawless plan. Plus, the software checks for spelling and accuracy at every step.
• Over 2,000 business plans and examples included - Learn by example with plans in every industry, including education, automotive, computer, construction, entertainment, health care and so many more
• Give plans your personal touch - Includes everything you need by easily importing text, photos, images and charts. Then export to Word, Excel, PowerPoint or PDF.

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• Is Discontinued By Manufacturer ‏ : ‎ No
• Language ‏ : ‎ English
• Product Dimensions ‏ : ‎ 1.25 x 5.25 x 7.5 inches; 4 ounces
• Item model number ‏ : ‎ PA-417
• Date First Available ‏ : ‎ June 22, 2011
• Manufacturer ‏ : ‎ Palo Alto Software, Inc.
• ASIN ‏ : ‎ B005LAM8KE
• #11 in Business Planning

Product Description

Expert guidance, writing your business plan just got easier.

We admit it. Writing a great business plan isn't exactly a breeze. But just like anything else, using the right tools makes it way easier. Business Plan Pro gives you the advice and guidance you need to forget your fears and start writing your plan with the confidence of an expert. And to get expert results!

Examples at every step

With over 500 sample plans included in the software, you've got examples to help you write every part of your plan. Say you're not sure what your Market Needs section should say. No problem--just click the example tab and view a handful of Market Needs descriptions. Cut and paste if you find one that works for you, or just get a sense of direction for writing your own. You don't have to wonder if you're doing it right, because you can easily measure your work against successful examples.

Let the software do the math

Just plug in your numbers and the calculations are done for you. Now you have instant access to business planning calculations, and an explanation of every financial term. Only Business Plan Pro offers powerful, integrated financial and spreadsheet support.

Easy-to-follow instructions

Wherever and whenever you need help, Business Plan Pro offers complete instructions for your every topic and table in your business plan.

A planning expert at your side

Tim Berry is the recognized authority on business planning. An expert business planner and principal author of Business Plan Pro, his advice and expertise guides you through every step of creating your business plan. He's a best-selling author and prolific writer, whose blogs can be found at TimBerry.com, Entrepreneur.com, Amex Open Forum, and others. Using Business Plan Pro is like having Tim sitting next to you while you write your business plan.

Finish your business plan and have time left to read War and Peace

Writing a business plan doesn't have to take forever. Business Plan Pro takes care of the details so you can focus on the meat of your plan, saving you time and letting you create the best possible plan for your business.

500+ sample plans

Say goodbye to writer's block and hello to getting your plan done quickly. Easily find, read, and edit sample plans that match your business type. Business Plan Pro software comes with more than 500 complete sample business plans for all sorts of company types.

The exclusive Sample Plan Browser lets you quickly find the plan that meets your needs. Then you can write up the plan in your own words (step-by-step guidance makes it a snap!). Or simply edit the text found in any of the 500+ real working sample plans. Every single plan can be opened and edited in Business Plan Pro to give you the jump-start you need.

Step-by-step instructions

You could spend weeks finding all the information you need to put together a complete, professional business plan. Or you could let the detailed instructions in Business Plan Pro guide you. Searchable help articles add an additional layer of information for you to pull from, saving you even more time by giving you all the tools you need to get your plan done fast.

Automatic charts and graphs

No need to spend time creating charts and graphs to go with all the tables in your plan. Business Plan Pro does it for you. As you input and update your numbers, your charts change automatically. You can choose the colors and types of charts you want to use, or go with the standard settings and not have to think about the charts again.

Great Presentations

Make your business plan the belle of the ball.

Business plans shouldn't all look alike. Every business is unique, and every business plan should be too. Make yours stand out from the rest with custom charts and graphs and easy PowerPoint presentations. Whether you're presenting to your boss or to a lender, be sure you wow your audience with a great looking plan.

Create a professional business plan

Every page is automatically organized and collated to produce a bulletproof plan that gets results, all in the preferred format of banks, investors, and SBA lenders.

Business Plan Pro even includes five professional PowerPoint templates so you can pitch your plan like a pro and impress any audience.

Easy export for presentations

You'll want to put your best foot forward when you present your plan to bankers, investors, or potential partners. Simply export to Microsoft Word, Excel, or Adobe PDF to share your plan. You can even export to PowerPoint to create a winning presentation.

Customize every page

Create a plan that is unique for your business. Rearrange the outline and add just what you need. Don't be squeezed into an inflexible, one-size-fits-all cookie-cutter planning product.

Illustrate your key points with great looking charts and graphs. They're generated automatically based on the information you've already input in your financials. Customize your charts for a plan that meets your specific needs.

Funding Tools

Business plan funding tools.

If you're showing your business plan to bankers, investors, or other lenders, you better make sure it's got all the information they're going to need to make a decision. Business Plan Pro is packed with tools to make sure your plan is complete and accurate, and even includes a database to help you find venture capital!

Matches the format preferred by banks, investors, and SBA lenders

Business Plan Pro uses a format that meets the most stringent requirements of banks, SBA lenders, angel investors, and venture capitalists.

Step-by-step financials

Expert guidance and a simple interface take you through every step of every financial table in Business Plan Pro. Detailed instructions and explanations to ensure that you build a solid plan. And the table wizard gives you feedback about your numbers to help you create a business plan that will get you the funding you need.

Real-world financial data

Business Plan Pro leverages more than 9,000 industry profiles to give you insight into how your business compares against similar companies in your industry. The most recent data from your industry gets pulled right into your plan, so you can show investors that your numbers are on target, or explain why they differ.

Easy Financials

Business planning financials made easy.

Don't fear the financial section of your business plan--you don't need an MBA to get it right. Business Plan Pro makes financial forecasts easy, with built-in formulas in all the spreadsheets and expert advice every step of the way.

Financials made easy

Business Plan Pro's table wizards guide you through creating your financial forecasts. You just plug in your numbers and the calculations are done for you. Plus, you have instance access to the methodology behind standard business planning calculations, and an explanation of every financial term. Only Business Plan Pro offers such powerful, integrated financial and spreadsheet support.

Create long-term financial forecasts

Business Plan Pro allows for long-term forecasting of your. Detailed financial forecasting is available through the first five years, while a long-term macro-view summary can be created for up to 10 years in the future.

Simplified forecasting

Create forecasts visually with a "drag and drop" graphic forecaster. The forecaster is a simple and powerful tool to streamline the forecasting process. You can easily change your sales and expenses estimates. Simply clicking your mouse button to move the line on your forecast chart or apply a growth rate to the whole year. Build forecasts using visual common sense.

Research Resources

A library of business planning resources.

You didn't know a business plan required so much research, did you? Don't worry, Business Plan Pro includes tons of current, accurate information about your industry, legal issues, and business planning in general. You won't need to run to the library or search random websites for the data you need to support your plan.

Business Plan Pro leverages more than 9,000 different industry profiles to give you insight into how your business compares against similar companies in your industry. The most recent data from inudstry gets pulled right into your plan, so you can show investors that your numbers are on target, or explain where they differ.

Answers to your legal questions

There are plenty of legal issues you have to think about when you're starting up a business. Business Plan Pro includes resources to help you navigate the legal waters, from "Trademark Basics for Naming Your Small Business" to the Nolo Small Business Law Center, you'll find answers to most of your legal questions.

Required reading for business planning

The Plan-As-You-Go Business Plan by Tim Berry

Every purchase of Business Plan Pro includes the e-book edition of The Plan-As-You-Go Business Plan. In this new book from Entrepreneur Press, celebrated planning expert Tim Berry describes his no-nonsense approach to business planning for small and growing businesses.

Hurdle: The Book on Business Planning by Tim Berry

Also included with Business Plan Pro is the e-book edition of Tim Berry's classic business planning guide. Hurdle is a practical, step-by-step guide to developing a business plan. Emphasizing real business plans that focus on concrete and measurable results, Berry's book covers all the basics including what to include in a plan, where to find information, and an excellent simple guide to business numbers that stands out for its explanation of cash flow.

Research your funding options

You could scour the Internet for a week and not find all the information we've amassed in our Venture Capital database. Over 1,200 profiles of venture capital firms worldwide are included. The database is searchable, so you can look for firms by business type, funding stage, location, or funding need.

But wait, there's more!

When you buy Business Plan Pro, you're not just getting the best-selling business plan software available. You're also getting tons of extra value from our partners who offer tools and services every business needs.

One-year subscription to Inc. Magazine (or $10 refund)

Your online purchase of Business Plan Pro software includes a one-year subscription (12 issues, valued at $10) to Inc., one of the most popular magazines for entrepreneurs and small businesses. If you are a current subscriber, your subscription will be extended for another year. Offer available to U.S. residents only, limit one per household.

Unparalleled customer service

At Palo Alto Software, we pride ourselves on providing quality, U.S.-based customer service. And we're not going to charge you for it. Whether you've lost your serial number, are having computer issues, or have questions about how to use Business Plan Pro, our in-house customer care team is highly trained and ready to help you.

Small business legal guide

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What is a Business Plan? Definition and Resources

9 min. read

Updated July 29, 2024

If you’ve ever jotted down a business idea on a napkin with a few tasks you need to accomplish, you’ve written a business plan — or at least the very basic components of one.

The origin of formal business plans is murky. But they certainly go back centuries. And when you consider that 20% of new businesses fail in year 1 , and half fail within 5 years, the importance of thorough planning and research should be clear.

But just what is a business plan? And what’s required to move from a series of ideas to a formal plan? Here we’ll answer that question and explain why you need one to be a successful business owner.

• What is a business plan?

A business plan lays out a strategic roadmap for any new or growing business.

Any entrepreneur with a great idea for a business needs to conduct market research , analyze their competitors , validate their idea by talking to potential customers, and define their unique value proposition .

The business plan captures that opportunity you see for your company: it describes your product or service and business model , and the target market you’ll serve. 

It also includes details on how you’ll execute your plan: how you’ll price and market your solution and your financial projections .

Reasons for writing a business plan

If you’re asking yourself, ‘Do I really need to write a business plan?’ consider this fact: 

Companies that commit to planning grow 30% faster than those that don’t.

Creating a business plan is crucial for businesses of any size or stage. It helps you develop a working business and avoid consequences that could stop you before you ever start.

If you plan to raise funds for your business through a traditional bank loan or SBA loan , none of them will want to move forward without seeing your business plan. Venture capital firms may or may not ask for one, but you’ll still need to do thorough planning to create a pitch that makes them want to invest.

But it’s more than just a means of getting your business funded . The plan is also your roadmap to identify and address potential risks. 

It’s not a one-time document. Your business plan is a living guide to ensure your business stays on course.

Related: 14 of the top reasons why you need a business plan

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What research shows about business plans

Numerous studies have established that planning improves business performance:

• 71% of fast-growing companies have business plans that include budgets, sales goals, and marketing and sales strategies.
• Companies that clearly define their value proposition are more successful than those that can’t.
• Companies or startups with a business plan are more likely to get funding than those without one.
• Starting the business planning process before investing in marketing reduces the likelihood of business failure.

The planning process significantly impacts business growth for existing companies and startups alike.

Read More: Research-backed reasons why writing a business plan matters

When should you write a business plan?

No two business plans are alike. 

Yet there are similar questions for anyone considering writing a plan to answer. One basic but important question is when to start writing it.

A Harvard Business Review study found that the ideal time to write a business plan is between 6 and 12 months after deciding to start a business. 

But the reality can be more nuanced – it depends on the stage a business is in, or the type of business plan being written.

Ideal times to write a business plan include:

• When you have an idea for a business
• When you’re starting a business
• When you’re preparing to buy (or sell)
• When you’re trying to get funding
• When business conditions change
• When you’re growing or scaling your business

Read More: The best times to write or update your business plan

How often should you update your business plan?

As is often the case, how often a business plan should be updated depends on your circumstances.

A business plan isn’t a homework assignment to complete and forget about. At the same time, no one wants to get so bogged down in the details that they lose sight of day-to-day goals. 

But it should cover new opportunities and threats that a business owner surfaces, and incorporate feedback they get from customers. So it can’t be a static document.

Related Reading: 5 fundamental principles of business planning

For an entrepreneur at the ideation stage, writing and checking back on their business plan will help them determine if they can turn that idea into a profitable business .

And for owners of up-and-running businesses, updating the plan (or rewriting it) will help them respond to market shifts they wouldn’t be prepared for otherwise. 

It also lets them compare their forecasts and budgets to actual financial results. This invaluable process surfaces where a business might be out-performing expectations and where weak performance may require a prompt strategy change. 

The planning process is what uncovers those insights.

Related Reading: 10 prompts to help you write a business plan with AI

• How long should your business plan be?

Thinking about a business plan strictly in terms of page length can risk overlooking more important factors, like the level of detail or clarity in the plan. 

Not all of the plan consists of writing – there are also financial tables, graphs, and product illustrations to include.

But there are a few general rules to consider about a plan’s length:

• Your business plan shouldn’t take more than 15 minutes to skim.
• Business plans for internal use (not for a bank loan or outside investment) can be as short as 5 to 10 pages.

A good practice is to write your business plan to match the expectations of your audience. 

If you’re walking into a bank looking for a loan, your plan should match the formal, professional style that a loan officer would expect . But if you’re writing it for stakeholders on your own team—shorter and less formal (even just a few pages) could be the better way to go.

The length of your plan may also depend on the stage your business is in. 

For instance, a startup plan won’t have nearly as much financial information to include as a plan written for an established company will.

Read More: How long should your business plan be?  

What information is included in a business plan?

The contents of a plan business plan will vary depending on the industry the business is in. 

After all, someone opening a new restaurant will have different customers, inventory needs, and marketing tactics to consider than someone bringing a new medical device to the market. 

But there are some common elements that most business plans include:

• Executive summary: An overview of the business operation, strategy, and goals. The executive summary should be written last, despite being the first thing anyone will read.
• Products and services: A description of the solution that a business is bringing to the market, emphasizing how it solves the problem customers are facing.
• Market analysis: An examination of the demographic and psychographic attributes of likely customers, resulting in the profile of an ideal customer for the business.
• Competitive analysis: Documenting the competitors a business will face in the market, and their strengths and weaknesses relative to those competitors.
• Marketing and sales plan: Summarizing a business’s tactics to position their product or service favorably in the market, attract customers, and generate revenue.
• Operational plan: Detailing the requirements to run the business day-to-day, including staffing, equipment, inventory, and facility needs.
• Organization and management structure: A listing of the departments and position breakdown of the business, as well as descriptions of the backgrounds and qualifications of the leadership team.
• Key milestones: Laying out the key dates that a business is projected to reach certain milestones , such as revenue, break-even, or customer acquisition goals.
• Financial plan: Balance sheets, cash flow forecast , and sales and expense forecasts with forward-looking financial projections, listing assumptions and potential risks that could affect the accuracy of the plan.
• Appendix: All of the supporting information that doesn’t fit into specific sections of the business plan, such as data and charts.

Read More: Use this business plan outline to organize your plan

• Different types of business plans

A business plan isn’t a one-size-fits-all document. There are numerous ways to create an effective business plan that fits entrepreneurs’ or established business owners’ needs. 

Here are a few of the most common types of business plans for small businesses:

• One-page plan : Outlining all of the most important information about a business into an adaptable one-page plan.
• Growth plan : An ongoing business management plan that ensures business tactics and strategies are aligned as a business scales up.
• Internal plan : A shorter version of a full business plan to be shared with internal stakeholders – ideal for established companies considering strategic shifts.

Business plan vs. operational plan vs. strategic plan

• What questions are you trying to answer? 
• Are you trying to lay out a plan for the actual running of your business?
• Is your focus on how you will meet short or long-term goals? 

Since your objective will ultimately inform your plan, you need to know what you’re trying to accomplish before you start writing.

While a business plan provides the foundation for a business, other types of plans support this guiding document.

An operational plan sets short-term goals for the business by laying out where it plans to focus energy and investments and when it plans to hit key milestones.

Then there is the strategic plan , which examines longer-range opportunities for the business, and how to meet those larger goals over time.

Read More: How to use a business plan for strategic development and operations

• Business plan vs. business model

If a business plan describes the tactics an entrepreneur will use to succeed in the market, then the business model represents how they will make money. 

The difference may seem subtle, but it’s important. 

Think of a business plan as the roadmap for how to exploit market opportunities and reach a state of sustainable growth. By contrast, the business model lays out how a business will operate and what it will look like once it has reached that growth phase.

Learn More: The differences between a business model and business plan

• Moving from idea to business plan

Now that you understand what a business plan is, the next step is to start writing your business plan . 

The best way to start is by reviewing examples and downloading a business plan template . These resources will provide you with guidance and inspiration to help you write a plan.

We recommend starting with a simple one-page plan ; it streamlines the planning process and helps you organize your ideas. However, if one page doesn’t fit your needs, there are plenty of other great templates available that will put you well on your way to writing a useful business plan.

Tim Berry is the founder and chairman of Palo Alto Software , a co-founder of Borland International, and a recognized expert in business planning. He has an MBA from Stanford and degrees with honors from the University of Oregon and the University of Notre Dame. Today, Tim dedicates most of his time to blogging, teaching and evangelizing for business planning.

Table of Contents

• Reasons to write a business plan
• Business planning research
• When to write a business plan
• When to update a business plan
• Information to include
• Business vs. operational vs. strategic plans

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Harris visits New Hampshire to tout her small business tax plan

Aptopix election 2024 harris.

WASHINGTON (AP) — Vice President Kamala Harris used a campaign stop in New Hampshire on Wednesday to propose an expansion of tax incentives for small businesses , a pro-entrepreneur plan that may soften her previous calls for wealthy Americans and large corporations to pay higher taxes.

Describing small businesses as "an essential foundation to our entire economy,” Harris said she wants to expand from $5,000 to $50,000 tax incentives for startup expenses, with the goal of eventually spurring 25 million new small business applications over four years.

The speech was part of Harris' effort to strengthen her economic credentials with only two months until the end of the election.

“You’re not only leaders in business. You’re civic leaders,” Harris said. She added, “You are part of the glue and the fabric that holds communities together.”

The vice president spoke at the Throwback Brewery in North Hampton, outside Portsmouth, and met with co-founders Annette Lee and Nicole Carrier. Their brewery got support to open its current location through a small business credit and installed solar panels using federal programs championed by the Biden administration.

After that, Harris visited another women-owned small business, Port City Pretzels, which was founded in 2015 and had expanded out of its original, 500-foot facility into a larger location. One of the co-owners, Suzanne Foley, led Harris around brown boxes bearing the company's logo, some stacked head-high and waiting to be shipped to customers around the country.

“Thank you for visiting our little company," said Foley, who beamed and chatted with Harris as the pair walked around the facility. At one point, the vice president asked of the pretzels “Is it a family recipe?” When the answer came back yes, she offered, “Is it a secret family recipe?" Foley responded, “It’s not really, no."

Meanwhile, the campaign of Donald Trump, the former president and current Republican nominee, dismissed Harris' plan, noting that the vice president has promised to eliminate a package of tax cuts approved during his administration that are set to expire next year. Trump's campaign said those cuts “allowed business owners to deduct up to 20% of qualified business income,” reduced taxes on new equipment purchases and took steps to bolster small businesses as compared to larger ones.

Before talking about her small business plan, Harris addressed Wednesday's school shooting in Georgia.

“It’s just outrageous that every day, in our country, in the United States of America, that parents have to send their children to school worried about whether or not their child will come home alive.”

She added: “We’ve got to stop it. It doesn’t have to be this way.”

Harris' New Hampshire trip is a rare deviation for a candidate who is spending most of her time in Midwest and Sun Belt states with pivotal roles in November's election .

Since President Joe Biden dropped his reelection bid and endorsed Harris , the vice president has focused on Michigan, Wisconsin and Pennsylvania, which have been the centerpiece of successful Democratic campaigns. She also has frequently visited Arizona, Nevada and Georgia, all of which Biden narrowly won in 2020, and North Carolina, which she hopes to flip from Trump .

Wednesday's stop came after Harris marked Labor Day with rallies in Detroit and Pittsburgh and before she was making her 10th visit to Pennsylvania of the year by heading back to Pittsburgh on Thursday.

Trump has called for lowering the corporate tax rate to 15% — a break with Biden, who in his budget proposal in March suggested setting the corporate tax rate at 28%. Harris has released relatively few major policy proposals in the roughly six weeks since taking over the top of the Democratic ticket, but has not suggested she's planning to deviate greatly from Biden on tax policy.

Still, Harris also endorsed during her Wisconsin speech a tax of 28% on long-term capital gains for households with an annual income of $1 million or more. That marks a key difference with Biden — who included a 39.6% rate in his proposed budget, while still calling for a higher rate.

“We will tax capital gains at a rate that rewards investment in America’s innovators,” the vice president said.

The plans Harris presented has lots that the business community would like. But they also contrast with another proposal Harris unveiled last month, where she promised to help fight inflation by working to combat "price gouging” from food producers that she suggests have driven grocery store prices up unnecessarily.

Harris has built her campaign around calls to grow and strengthen the nation's middle class — and suggested that rich Americans and large corporations should pay higher taxes. She repeated that message Wednesday, saying “billionaires and big corporations must pay their fair share in taxes.”

“It's just not right that those who can most afford it are often paying a lower tax rate than our teachers and our nurses and our firefighters,” she told the New Hampshire crowd.

Both nominees are using the week before their debate to sharpen their economic messages about who could do more for the middle class. Trump will address the Economic Club of New York on Thursday. They square off on the debate stage next week in Philadelphia.

Biden, who built his campaign around promoting the middle class, won New Hampshire by 7 percentage points in 2020, but Trump came much closer to winning it against Hillary Clinton in 2016. The Harris campaign says it has 17 field offices operating in coordination with the state Democratic party across New Hampshire, compared to one for Trump’s campaign.

Some of the state's Democrats were angry that Biden directed the Democratic National Committee to make South Carolina the first state to vote in the party's presidential primary this year — displacing Iowa's caucus and a first-in-the-nation primary New Hampshire held for more than a century.

Despite that, New Hampshire pressed ahead with an unsanctioned primary. Though Biden didn't campaign in it, or appear on the ballot, he still easily won via a write-in drive .

Trump has seized on the primary calendar change, posting on his social media account that Harris “sees there are problems for her campaign in New Hampshire because of the fact that they disrespected it in their primary and never showed up."

“Additionally, the cost of living in New Hampshire is through the roof, their energy bills are some of highest in the country, and their housing market is the most unaffordable in history,” the former president wrote.

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Harris visits New Hampshire to tout her small business tax plan

Vice President Kamala Harris used a New Hampshire campaign stop to propose an expansion of tax incentives for small businesses, a plan that may soften her previous calls for wealthy Americans and large corporations to pay higher taxes.

Democratic presidential nominee Vice President Kamala Harris waves as she steps on stage to address a crowd, Wednesday, Sept. 4, 2024, during a campaign stop, in North Hampton, N.H. (AP Photo/Steven Senne)

Democratic presidential nominee Vice President Kamala Harris speaks during a campaign stop at the Throwback Brewery, in North Hampton, N.H., Wednesday, Sept. 4, 2024. (AP Photo/Jacquelyn Martin)

Democratic presidential nominee Vice President Kamala Harris walks with co-owners of Port City Pretzels, Eileen Marousek, center, and her mother, Suzanne Foley, as she campaigns in Portsmouth, N.H., Wednesday, Sept. 4, 2024. (AP Photo/Jacquelyn Martin)

Democratic presidential nominee Vice President Kamala Harris talks with co-owners of Port City Pretzels, Eileen Marousek, left, as her mother, Suzanne Foley watches as she campaigns in Portsmouth, N.H., Wednesday, Sept. 4, 2024. (AP Photo/Jacquelyn Martin)

Democratic presidential nominee Vice President Kamala Harris speaks during a campaign stop at the Throwback Brewery, in North Hampton, N.H., Wednesday, Sept. 4, 2024. (AP Photo/Steven Senne)

• Copy Link copied

WASHINGTON (AP) — Vice President Kamala Harris used a campaign stop in New Hampshire on Wednesday to propose an expansion of tax incentives for small businesses , a pro-entrepreneur plan that may soften her previous calls for wealthy Americans and large corporations to pay higher taxes.

Describing small businesses as “an essential foundation to our entire economy,” Harris said she wants to expand from $5,000 to $50,000 tax incentives for startup expenses, with the goal of eventually spurring 25 million new small business applications over four years.

The speech was part of Harris’ effort to strengthen her economic credentials with only two months until the end of the election.

“You’re not only leaders in business. You’re civic leaders,” Harris said. She added, “You are part of the glue and the fabric that holds communities together.”

The vice president spoke at the Throwback Brewery in North Hampton, outside Portsmouth, and met with co-founders Annette Lee and Nicole Carrier. Their brewery got support to open its current location through a small business credit and installed solar panels using federal programs championed by the Biden administration.

After that, Harris visited another women-owned small business, Port City Pretzels, which was founded in 2015 and had expanded out of its original, 500-foot facility into a larger location. One of the co-owners, Suzanne Foley, led Harris around brown boxes bearing the company’s logo, some stacked head-high and waiting to be shipped to customers around the country.

“Thank you for visiting our little company,” said Foley, who beamed and chatted with Harris as the pair walked around the facility. At one point, the vice president asked of the pretzels “Is it a family recipe?” When the answer came back yes, she offered, “Is it a secret family recipe?” Foley responded, “It’s not really, no.”

Meanwhile, the campaign of Donald Trump, the former president and current Republican nominee, dismissed Harris’ plan, noting that the vice president has promised to eliminate a package of tax cuts approved during his administration that are set to expire next year. Trump’s campaign said those cuts “allowed business owners to deduct up to 20% of qualified business income,” reduced taxes on new equipment purchases and took steps to bolster small businesses as compared to larger ones.

Before talking about her small business plan, Harris addressed Wednesday’s school shooting in Georgia.

“It’s just outrageous that every day, in our country, in the United States of America, that parents have to send their children to school worried about whether or not their child will come home alive.”

She added: “We’ve got to stop it. It doesn’t have to be this way.”

Harris’ New Hampshire trip is a rare deviation for a candidate who is spending most of her time in Midwest and Sun Belt states with pivotal roles in November’s election .

Since President Joe Biden dropped his reelection bid and endorsed Harris , the vice president has focused on Michigan, Wisconsin and Pennsylvania, which have been the centerpiece of successful Democratic campaigns. She also has frequently visited Arizona, Nevada and Georgia, all of which Biden narrowly won in 2020, and North Carolina, which she hopes to flip from Trump .

Wednesday’s stop came after Harris marked Labor Day with rallies in Detroit and Pittsburgh and before she was making her 10th visit to Pennsylvania of the year by heading back to Pittsburgh on Thursday.

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Trump has called for lowering the corporate tax rate to 15% — a break with Biden, who in his budget proposal in March suggested setting the corporate tax rate at 28%. Harris has released relatively few major policy proposals in the roughly six weeks since taking over the top of the Democratic ticket, but has not suggested she’s planning to deviate greatly from Biden on tax policy.

Still, Harris also endorsed during her Wisconsin speech a tax of 28% on long-term capital gains for households with an annual income of $1 million or more. That marks a key difference with Biden — who included a 39.6% rate in his proposed budget, while still calling for a higher rate.

“We will tax capital gains at a rate that rewards investment in America’s innovators,” the vice president said.

The plans Harris presented has lots that the business community would like. But they also contrast with another proposal Harris unveiled last month, where she promised to help fight inflation by working to combat “price gouging” from food producers that she suggests have driven grocery store prices up unnecessarily.

Harris has built her campaign around calls to grow and strengthen the nation’s middle class — and suggested that rich Americans and large corporations should pay higher taxes. She repeated that message Wednesday, saying “billionaires and big corporations must pay their fair share in taxes.”

“It’s just not right that those who can most afford it are often paying a lower tax rate than our teachers and our nurses and our firefighters,” she told the New Hampshire crowd.

Both nominees are using the week before their debate to sharpen their economic messages about who could do more for the middle class. Trump will address the Economic Club of New York on Thursday. They square off on the debate stage next week in Philadelphia.

Biden, who built his campaign around promoting the middle class, won New Hampshire by 7 percentage points in 2020, but Trump came much closer to winning it against Hillary Clinton in 2016. The Harris campaign says it has 17 field offices operating in coordination with the state Democratic party across New Hampshire, compared to one for Trump’s campaign.

Some of the state’s Democrats were angry that Biden directed the Democratic National Committee to make South Carolina the first state to vote in the party’s presidential primary this year — displacing Iowa’s caucus and a first-in-the-nation primary New Hampshire held for more than a century.

Despite that, New Hampshire pressed ahead with an unsanctioned primary. Though Biden didn’t campaign in it, or appear on the ballot, he still easily won via a write-in drive .

Trump has seized on the primary calendar change, posting on his social media account that Harris “sees there are problems for her campaign in New Hampshire because of the fact that they disrespected it in their primary and never showed up.”

“Additionally, the cost of living in New Hampshire is through the roof, their energy bills are some of highest in the country, and their housing market is the most unaffordable in history,” the former president wrote.

Russian money was funneled to right-wing creators through a pro-Trump media outlet, prosecutors say

WASHINGTON — Employees of the Russia-backed media network RT funded and directed a scheme that sent millions of dollars to prominent right-wing commentators through a media company that appears to match the description of Tenet Media, a leading platform for pro-Trump voices, according to an NBC News review of charging documents, business records and social media profiles.

The indictment on Wednesday of two RT employees, Konstantin Kalashnikov and Elena Afanasyeva, includes allegations that the duo implemented a nearly $10 million plan to fund an unnamed Tennessee-based company as one of their “covert projects” to influence American politics by posting videos to TikTok, Instagram, X and YouTube.

The company’s description matches that of Tenet Media, according to a review by NBC News of details included in the indictment . Prosecutors said that the website of “Company-1” describes itself as a “network of heterodox commentators that focus on Western political and cultural issues,” the exact same language used by Tenet Media on its website and social media channels. The indictment also states that Company-1 is registered in Tennessee and changed its name on or about May 22, 2023. Tennessee Secretary of State records found by NBC News show that Tenet Media entered its new assumed name on the same date: May 22, 2023.

Tenet has partnered with six commentators: Lauren Southern, Tim Pool, Tayler Hansen, Matt Christiansen, Dave Rubin and Benny Johnson. The indictment refers to six commentators, who are not named. 

Details included in the indictment match those of two of Tenet’s personalities: Rubin and Pool. As of Wednesday, Rubin’s “The Rubin Report” YouTube channel had 2.44 million subscribers. The indictment refers to “Commentator-1” as having over 2.4 million YouTube subscribers. A person with over 1.3 million YouTube subscribers is referred to as “Commentator-2.” Pool now has 1.37 million subscribers. The indictment also refers to three other commentators, including one with female pronouns, but lacked any information that could directly identify their channels.

It is unclear from the indictment the extent to which each of the commentators realized where the money was coming from, though it stated that “Commentator-1” and “Commentator-2”  were unaware they were being paid by Russian efforts and had been deceived about the source of the funding. It found that $8.7 million was eventually sent “to the production companies of Commentator-1 , Commentator-2, and Commentator-3 alone.” The payments allegedly made up 90% of the deposits made to the company’s account between October 2023 and August 2024.

Tenet Media did not immediately respond to a request for comment from NBC News. A representative for RT responded to a request to comment with a series of text messages including “Hahahaha!” and “We gotta earn our Kremlin paycheck somehow.”

Pool said, in part, in a lengthy statement on X : “Should these allegations prove true, I as well as the other personalities and commentators were deceived and are victims. I cannot speak for anyone else at the company as to what they do or to what they are instructed.”

Johnson, also on X , said: “A year ago, a media startup pitched my company to provide content as an independent contractor. Our lawyers negotiated a standard, arms length deal, which was later terminated. We are disturbed by the allegations in today’s indictment, which make clear that myself and other influencers were victims in this alleged scheme. My lawyers will handle anyone who states or suggests otherwise.”

Hansen said, in part, on X : “These allegations come as a complete shock to me and the other hosts at TENET Media. I want to be as clear as possible, I was never directed to report on any topic and had complete freedom and control over my reporting at all times. I would never agree to any arrangement where I am not the sole person in charge of the stories I cover and content I create.”

Rubin said, in part, on X :” These allegations clearly show that I and other commentators were the victims of this scheme. I knew absolutely nothing about any of this fraudulent activity. Period.”

Christiansen said, in part, on X : “At no point has anyone ever directed me what to say or not to say, and I would never agree to anything otherwise. My videos and streams for Tenet are exactly the same as my videos and streams on my personal channels. Every word is from me and me alone.” 

The allegations came as part of a wide-ranging move by the Departments of Justice, State and Treasury to target what the Biden administration says are Russian government-sponsored attempts to manipulate U.S. public opinion ahead of the November election. That included charges against the two RT employees, who were accused of conspiring to commit money laundering and violating the Foreign Agents Registration Act in an indictment unsealed Wednesday in the Southern District of New York.

The company that would become Tenet Media was registered in Nashville, Tennessee, according to state business records that list the company’s registered agents as Liam Donovan and Lauren Tam. Donovan is a producer, according to his social media pages. Neither of them are named in the indictment.

Tam is better known as Lauren Chen, a ​​video creator for The Blaze and a contributor to Turning Points USA. She is also listed on RT’s website as a contributor. Online, Chen has praised Russian President Vladimir Putin and criticized U.S. support for Ukraine. Public records show Donovan is married to Lauren Tam, which is also reflected in the public profiles of Chen.

Donovan and Tam did not immediately respond to requests for comment.

Tenet has emerged in recent years as a home for staunch pro-Trump voices, many of whom have interviewed Trump and Trump family members while also supporting conservative causes that mesh with Russia’s own interests. Johnson interviewed Donald Trump Jr. in a video for Tenet Media in February. Many of Tenet’s personalities have espoused anti-Ukraine views. 

Tenet Media personalities have also downplayed the Jan. 6 attack on the U.S. Capitol. One of Tenet’s commentators, Hansen, was inside the U.S. Capitol during the Jan. 6 attack and took video of the death of rioter Ashli Babbitt. He testified last year in a House Republican hearing on the prosecution of Jan. 6 defendants. He was not charged in relation to those actions.

The indictment lays out how RT officials — in the wake of sanctions imposed after Russia invaded Ukraine in February 2022 — created an “entire empire of covert projects” meant to shape the public opinions of “Western audiences,” in this case using U.S. citizens who acted as intermediaries to pro-Trump political commentators, communicating with them about strategy, payment negotiations and video distribution. 

The indictment includes allegations that some Tenet commentators drove a hard bargain. In one exchange, company officials in internal communications said that “Commentator-1” — likely Rubin — said “it would need to be closer to 5 million yearly for him to be interested,” while “Commentator-2” — likely Pool — said “it would take 100k per weekly episode to make it worth his while.” That led one of the company’s founders to allegedly say that it would be “very hard” for the company to “recoup the costs” based on ad revenue from web traffic or sponsors alone, but that they decided to move forward anyway. 

The indictment also alleges that the two defendants and the two “founders” told two of the commentators that the company was sponsored by a private investor named “Eduard Grigoriann,” a fictional persona they described as an “accomplished financial professional” who held positions at a multinational bank in both Brussels and France. The founders, according to the indictment, referenced Grigoriann as their investor with Commentators-1 & 2, but privately acknowledged to each other in online communications that their real investors were “the Russians.”

The indictment further alleges the RT operatives pushed the U.S. commentators to share the Russian-funded content with their larger audiences and openly worried about how few of their “raw videos” were being posted by certain of the company’s talent.

The indictment adds to growing scrutiny on some internet commentators who have increasingly embraced Trump and much of his worldview.

Tim Pool began as a digital journalist for news outlets including Vice News and Fusion, but in recent years has become one of the right’s most popular online influencers. While decrying the right-wing label, Pool has voiced strong support for the re-election of Donald Trump and has hosted guests from the conservative fringe including Proud Boys, Covid conspiracy theorists and avowed antisemites. Pool has reportedly earned more than $1.3 million from YouTube’s livestream “Super Chat” feature. 

Pool, who interviewed Trump this year, has been a frequent critic of U.S. aid for Ukraine, arguing that it equates to a provocation of Russia. 

“Ukraine is our enemy,” Pool posted on X last month , responding to an allegation that a Ukrainian man was involved in the 2022 undersea explosions that damaged Nord Stream gas pipelines between Russia and Germany. 

Rubin, a self-described libertarian, was an early creator of the “intellectual dark web,” a right-wing online counter-culture movement. His YouTube show, “The Rubin Report,” has promoted fringe and extremist voices . His more recent content is decidedly conservative and, as he announced on Twitter , he registered as a Republican in 2022. Rubin is also a vocal critic of Ukraine, arguing it “ can’t win ” the war against Russia. Last year, he called Senate Minority Leader Mitch McConnell, R-Ky., a “sellout” for wearing a tie with Ukraine’s blue and yellow colors . 

Southern is a far-right activist from Canada and long-time YouTube personality who was once banned from Airbnb for her affiliation with unspecified groups. She did not respond to a request for comment and did not post on X about the indictment. 

Bret Schafer, a senior fellow at the German Marshall Fund who studies disinformation noted this wasn’t Russia’s first attempt at covertly funding U.S. media operations. 

“There are many, many, many examples going back to the Cold War, but certainly more recently, of Russia trying to covertly finance news organizations or content creators who produce content that’s beneficial to Russia,” Schafer said.

He noted Maffick Media , a network of online video channels that targeted millennials with content critical of U.S. foreign policy and American media that in 2019 was discovered to have been secretly funded by Ruptly, an RT subsidiary. The campaign found nowhere near the success of Tenet’s Schafer said.

“Nothing like Tim Pool’s numbers among conservatives,” Schafer said. “You’re not dealing with a sort of influential Twitter account. This is a podcaster who’s reaching millions and has connections to get him in front of Trump. So yeah, this would be the most influential person that they’ve been able to somehow support.”

Ryan J. Reilly is a justice reporter for NBC News.

Lisa Rubin is an MSNBC legal correspondent and a former litigator.

Brandy Zadrozny is a senior reporter for NBC News. She covers misinformation, extremism and the internet.

David Ingram is a tech reporter for NBC News.

Harris breaks with Biden on capital gains tax in plan to spur small business growth

Vice president provides some details on plan to increase new small businesses.

Vice President and Democratic presidential nominee Kamala Harris on Wednesday unveiled a vastly expanded $50,000 tax benefit for new small businesses and a lower long-term capital gains tax than that was proposed by President Joe Biden in his budget blueprint , one of her clearest breaks yet with Biden.

Speaking to a crowd of supporters in Portsmouth, New Hampshire, Harris said, “And while we ensure that the wealthy and big corporations pay their fair share, we will tax capital gains at a rate that rewards investment in America's innovators, founders, and small businesses,” Harris said before proposing a 28% long-term capital gains tax on people making $1 million a year or more.

Biden previously called for a 39.6% tax rate on capital gains. It is unclear where Harris stands on the additional 5% tax. While Harris' presidential rival former President Donald Trump has not explicitly outlined a position this cycle , in 2016 he supported capping capital gains taxes at 20%, and the Heritage Foundation’s Project 2025 calls for a 15% capital gains tax.

A source familiar with the plan told ABC News that Harris believes a more moderated approach toward capital gains taxes will balance with other measures she supports to crack down on billionaires and big corporations. Harris said on Wednesday that she supported a minimum tax rate on billionaires. The source said she also supports raising the corporate tax rate and quadrupling taxes on stock buybacks.

However, the move comes as Harris and Trump seek to sharpen their economic messages to voters before facing off in their first debate on ABC News in Philadelphia next week. Trump is scheduled to give his own economic policy address on Thursday.

Harris’ announcement is part of a broader effort to generate a record-breaking 25 million new small business applications in her first term if elected, and her tax plan would represent a tenfold expansion of a $5,000 deduction already available to entrepreneurs to help cover startup costs.

An official familiar with Harris' plans said the $50,000 benefit would help offset the $40,000 it costs on average to start a small business. The terms of the proposal would also allow eligible enterprises operating at a loss to delay utilizing the benefit until they turn a profit.

Some profitable businesses could also defer the full benefit, opting to instead use it across multiple years by deducting only earnings from the first year of business and utilizing the remainder of the total $50,000 in future years, according to literature circulated to reporters from the Harris campaign.

MORE: Harris and Biden make pro-labor pitch on Labor Day in Pittsburgh

Harris said her administration would also seek to develop a standard deduction for small businesses to reduce the burden and cost of filing taxes, and remove barriers around occupational licensing, which inhibits workers from working across state lines.

While the literature circulated to reporters did not estimate the program's cost, Harris told the crowd that the the plan would provide access to venture capital, support “innovation hubs and business incubators,” and increase the number of federal contracts with small businesses.

Many aspects of Harris' proposed tax program would likely require congressional approval. The current 2017 Tax Cuts and Jobs Act, signed into law by Trump, is set to expire next year.

Harris also said that her administration would provide low- and no-interest loans to already existing small businesses. The campaign’s literature detailed a fund that would enable community banks and Community Development Financial Institutions to cover interest costs as small businesses expand in historically underinvested regions.

“We will have a particular focus on small businesses in rural communities, like right here in New Hampshire,” she said.

MORE: Can you guess how Americans feel about Harris's platform?

Both Trump and Harris have repeatedly sought to strike populist economic tones in their messaging, promising to provide relief to middle-class earners and even finding agreement on a proposed phase-out of federal income taxes on tipped wages.

Under pressure to define aspects of her policy agenda, Harris unveiled a slew of additional economic priorities last month that included, among other policies, restoring the American Rescue Plan's expanded Child Tax Credit, proposing $25,000 in down payment assistance to qualifying first-time home buyers, capping prescription drug prices and a federal ban on price gouging in the food sector.

Meanwhile, Trump has advocated for broader reforms to U.S. economic policy, which have included tax cuts for businesses and wealthy individuals alongside an across-the-board tariff hike on imports to the U.S., generally, with tax rates as high as 60% to 100% on Chinese goods.

Related Topics

• Kamala Harris
• President Biden
• Economy 2024

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