As a new business owner, you need to stay up-to-date about the online tools that can be beneficial to you. By constantly staying informed and upgrading to the latest version, you will ensure that you have the edge over your competitors. We have drawn up a list of 5 of the best online tools that are especially great for new businesses.

1. LivePlan

LivePlan is a great tool to help you come up with a solid financial business plan. Once you have your plan in place, you will be able to attract investors to fund your operations and generate profit. Setting up your business strategy in LivePlan is simple, as the platform walks you through the various steps. You will also be able to choose a goal and LivePlan will push you in the direction that you need to go to achieve it.

This tool is beneficial in that it breaks out the different steps required for a business. For instance, you will have the opportunity to come up with a pitch, which investors will ask for. You will also build a general forecast and budget by inputting your expected number of sales VS. your expenses. LivePlan even shows you how your budget stacks up against your competition.

2. Wave Accounting Tool

Bills are an unfortunate part of doing business, and you will see them start to come in sooner or later. With Wave, you can input all your revenues and expenses to see where' your money is going. This tool also has invoice software that you can use to request payment from clients for your services. Clients will enjoy being able to pay the invoices via credit cards and bank payments, as this software offers multiple payment options.

Once your business starts growing and more employees join your ranks, you can use Wave to run payroll for you. This is also a great way to keep track of the payments you make to temporary contract workers.

If you are working with an accountant at year-end, all you have to do is give them a copy of your Wave information. This will make it easier for them to prepare necessary tax filings, and it will take them less time. This will in turn save you money.

3. Hunter

This is a useful little tool that you can add to your Chrome browser as an extension. Hunter can help you locate email addresses by pulling the information from websites such as  LinkedIn  and Twitter. It also scans the internet for company biographies and announcements.

Once you have the verified email addresses in hand, you will be able to reach out to them and inquire about networking opportunities as well as add them to your marketing campaigns. Email campaigns are very important when it comes to generating new leads or keeping in contact with current clients. There are many templates that you can download from the internet to create your email marketing strategies.

4. Stripe

If you plan on making sales to customers over the internet, you will need a method of accepting payment. Stripe is a good tool because it is an easily accessible and secure way of receiving credit card payments. Stripe is fairly inexpensive for you as a business owner, as they have a flat fee for each transaction. They are not known for tacking on additional hidden fees. If your sales were to exceed $80,000 monthly, Stripe will offer you significant discounts.

Millions of customers every year fall victim to identity and credit card fraud through transactions performed via the internet, potentially costing them huge amounts of money. Your customers will thank you for partnering with a reputable company that dedicates itself to keeping personal and financial information confidential.

Final Thoughts

There are millions of online tools that claim to be beneficial to your business. As an entrepreneur, it is up to you to make decisions about which ones will help you, and which are just a waste of resources. The tools listed above can help you venture out with your business and start to make a profit while remaining comfortably within your budget.