This article gives you a list of free tools for entrepreneurs that can save you a lot of money. Yes, you heard it right, FREE!
1. Accounting: Express Accounting
Having good accounting software can help you track and manage your finances efficiently. Express Accounting is a full-fledged accounting software solution that comes at no cost. Multiple currencies, tax flexibility, banking related tools are a few highlights of the software. This powerful accounting software for small businesses is a must-have.
You may also like to check Wave accounting if you need online accounting software.
2. Invoicing: Nutcache
Invoicing or billing software is available as a standalone application or an integrated solution with a full-fledged accounting system.
A standalone invoicing solution can come in handy for companies that can’t afford a comprehensive accounting system. Try Nutcache, free billing software for small businesses.
Nutcache, an online billing software, is completely free and promises to remain so for a lifetime. It can effectively manage quotations, online payment, outstanding follow-up, and many other business functionalities in relation to invoicing. The software, however, lacks recurring invoicing and purchase tracking.
Various other alternatives to Nutcache include Justbill, Zoho invoicing, or Reeleezee, all of which are free for limited users.
3. Human Resource Management Software: HRStop.com & Cavin HR
HRStop.com is a web-based HRMS for startups and SMEs that streamlines different HR activities. It has all the functionality of a good payroll software coupled with the human resource management features, such as leave reporting, employee self-service, etc. The software offers a free version for ten employees, making it a perfect choice for small startups.
CavinHR is also a web-based human resource software that energizes user’s business. HR teams find it simple and easy to use, which helps them realize immediate productivity gains. CavinHR automates various HR-related tasks, allowing HR teams to focus more on people strategy. The solution is loaded with employee self-service, leave management, attendance and time tracking, payroll, performance management, and social tools for collaboration.
If you are looking for paid software, here is our article on the Top HRM Software in India.
4. CRM: Zoho CRM
It’s no rocket science, CRM is a must-have tool for all businesses today. And, gone are the days when one had to sign big fat cheques to set up a CRM system for their business. Zoho CRM’s free version never lets you feel like you are using it for free. Email integration, sales automation, HR management, workflow automation, mobile support are a few of the many features it provides. On top of that, it is cloud-based that allows you to access it from virtually any place.
Another CRM that you can try is Apptivo.
5. Email Campaign: Reach Mail
Reach Mail is an email marketing service that allows you to send 15,000 free emails each month for up to 5,000 contacts. Email marketing is one of the most preferred marketing channels to reach out to a wide range of audiences. It offers you custom email templates, reporting tools, autoresponders, and social media sharing, to name a few.
You can also try MailChimp, which provides 12,000 free emails each month.
6. Collaboration and Project Management: Podio
Podio is a web-based collaboration tool that helps you work in teams with ease. Assign tasks, conduct online meetings, share files, or communicate internally — you can do this all from your mobile phone or tablet device. This free tool for entrepreneurs is a must-have for businesses working in teams on multiple projects simultaneously. You must keep in mind that Podio is free for up to 5 users, though.
For bigger teams, you can go for Asana that supports 15 free users. Some other alternatives include HipChat and Zoho Contact Manager.
7. Document Management Software: Google Docs
Google Docs is a free tool for entrepreneurs. If you are not ready to pay for the expensive MS Office, Google Docs is here for you. It’s a web-based service wherein you can create documents, spreadsheets, presentations, drawings, and forms. And the best part is that all your documents get stored on your Google Drive. You can access it from anywhere, using any device.
But if you are looking for an install-based MS office alternative, you can try Apache Open Office or LibreOffice.
8. Video Conferencing Tool: Zoom
With remote working becoming the norm these days, the meeting room conference has been replaced with video conferencing platforms. One such free tool for entrepreneurs is Zoom that seamlessly brings your in-person and remote teams together. You can use it to make free calls, host meetings, and conduct webinars.
A few of the other best free video conferencing tools you can consider using are Skype and Google Meet.
9. Appointment Scheduler: Calendly
Calendly is an excellent appointment scheduler software that allows you to book meetings and keep track of all your appointments in one place. The best part is that you can share your calendar URL with the available time slots, and your clients can book meetings at their convenience. It integrates with Wix and Google Calendar.
10. : Canva
People like to see visually appealing content online. Using free tools like Canva can help you create creatives for various marketing purposes, such as PPC ads, social media, magazines, and much more. It also comes in with plenty of free stock photography that you can customize to give your personal touch.
Point-of-sale
Point-of-sale systems allow you to ring up customers and complete sales, and the best ones can be customized to fit your business and industry. Restaurants, for example, need POS systems that allow for table management and coordination. Retail shops, meanwhile, require robust inventory management features.
Square
NerdWallet’s pick for: Best overall.
Software cost: Free and up. (Additional hardware and payment processing are additional costs.)
Why we like it: Square is easy to use, and the company offers transparent pricing and live support. It’s also mobile-friendly and works on iPhones, iPads and Androids. For small businesses that don’t need advanced functionality, there’s also a free plan.
| on Square’s website |
Toast
NerdWallet’s pick for: Restaurants
Software cost: Free and up. (Additional hardware and payment processing are additional costs.)
Why we like it: Toast’s restaurant-specific design prioritizes features that make the back-of-house and front-of-house operate smoothly. You can manage menus and tables easily, get useful reporting and analytics and accept orders from multiple platforms.
Lightspeed
NerdWallet’s pick for: Inventory management.
Software cost: $69 per month (billed annually on a plan with Lightspeed Payments) and up. (Hardware and payment processing are additional costs.)
Why we like it: Lightspeed’s inventory management system sets it apart from the competition. That makes it an ideal choice for large businesses that keep track of a lot of inventory in multiple locations, with various discount rules or tax classes.
Shopify
NerdWallet’s pick for: E-commerce.
Software cost: $29 per month and up. (Hardware and payment processing are additional costs.)
Why we like it: Shopify makes it possible to almost instantly set up and run an e-commerce store and has helpful features like automated emails sent to shoppers who abandon their virtual shopping carts. It also offers software and hardware for accepting payments in store — including the option to rent hardware rather than buying it.
| on Shopify’s website |
Vend by Lightspeed
NerdWallet’s pick for: Retail.
Software cost: $99 per month (billed annually) and up. (Hardware and payment processing are additional costs.)
Why we like it: Vend is a retail-specific POS that allows you to set sales targets for your team, manage inventory easily and forecast purchasing trends. It doesn’t come bundled with hardware and payment processing services, so you can choose your favorites from a variety of compatible options.
Accounting
With careful bookkeeping and good accounting software, you can track your business’s revenue, profit margins and overall financial health. It can also help you answer important questions, like, “How much can I afford to spend on marketing this month?”
QuickBooks Online
NerdWallet’s pick for: Best overall.
Cost: $25 per month and up (50% off for first three months).
Why we like it: QuickBooks is the industry leader for small-business accounting software, so it’s easy to find an accountant or bookkeeper who will support it. Its multiple tiers of service can easily scale with your company, too. QuickBooks Online, the cloud-based version, can also be accessed anywhere.
| on QuickBooks’s website |
Xero
NerdWallet’s pick for: Unlimited users.
Cost: $12 and up per month.
Why we like it: Xero is easy to use, rich with features and widely supported by bookkeepers and accountants. Unlike some competitors, it doesn’t place any limit on the number of users you can add.
Wave
NerdWallet’s pick for: Free option.
Cost: Free (Wave makes money through payment processing).
Why we like it: Unlike its competitors, Wave’s accounting software is completely free. With it, you can add unlimited users and unlimited bank and credit card connections. It’s also possible to run multiple businesses from the same account.
Zoho Books
NerdWallet’s pick for: Low-cost, high-value.
Cost: Free for businesses with annual revenue under $50,000; otherwise $15 per month and up (billed annually).
Why we like it: Zoho Books offers plenty of useful features at an affordable price, including a free option for businesses that bring in less than $50,000 per year. It also has handy automation tools so you can, for example, send email notifications to yourself when an employee creates an invoice that exceeds a certain amount.
Invoicing
If you send bills or invoices to customers, invoicing software can be a key tool to keep track of transactions and what you’re still owed. The best options also handle quotes and estimates, time tracking and integration with payment processing and accounting systems.
Zoho Invoice
NerdWallet’s pick for: Best overall.
Cost: Free.
Why we like it: Zoho Invoice packs a lot of features into a free option, including estimates, time and expense tracking, invoicing, payment acceptance and a portal where clients can review everything on their account with you. It’s an easy choice if you use other Zoho software like Zoho Books, but even if not, it’s a strong contender.
FreshBooks
NerdWallet’s pick for: All-in-one invoicing and accounting solution.
Cost: $6 per month and up (billed monthly; promotions available).
Why we like it: FreshBooks bundles accounting and invoicing tools together with useful automation features, handy mobile apps and integration options. With the mobile app, you can send automated messages to clients to remind them about invoices or late payments. It’s a helpful feature for entrepreneurs on the go.
| on FreshBooks’s website |
Hiveage
NerdWallet’s pick for: Freelancers.
Cost: Free and up.
Why we like it: Hiveage’s strength is its simplicity. The free and lower-cost versions don’t have as many features as some competitors, but that can be for the best if you just need to send invoices and accept payments for them. The free option allows up to five clients with unlimited invoices, and there are paid tiers that support more clients and more advanced functionality.
Harvest
NerdWallet’s pick for: Hourly invoicing.
Cost: Free and up.
Why we like it: Harvest makes time tracking easier by using integrations to pull in data from project management and productivity apps like Asana, Slack, Jira and Google Calendar. The free option only supports one user and two projects, but the paid tier, which charges by the seat, allows you to add unlimited users and projects.
Payroll
Paying your employees is a must, and good payroll software can make it easier to manage and track wages, withholdings and tax filings. Many programs also give employees access to a portal so they can view their pay history.
Gusto
NerdWallet’s pick for: Best overall.
Cost: $39 per month plus $6 per person for the basic package, which includes tax filings and payments.
Why we like it: Gusto gives employees access to a self-service portal for payroll- and benefit-related information that’s accessible even after they leave a company. It also administers full-service payroll across 50 states and offers online and phone support.
| on Gusto’s website |
QuickBooks Payroll
NerdWallet’s pick for: Integrated payroll solution.
Cost: $45 per month (50% off for first three months) plus $4 per employee per month for the basic package, which includes tax filings and payments.
Why we like it: QuickBooks Payroll offers full-service payroll services in all 50 states with a direct connection to QuickBooks Online, unlimited payroll runs and next-day or same-day deposits. Also nice: Employees can view pay stubs, withholdings and remaining vacation day balances.
| on QuickBooks’s website |
Patriot Payroll
NerdWallet’s pick for: Low-cost option.
Cost: $10 per month plus $4 per employee or contractor for basic payroll (tax filings and payments not included).
Why we like it: Patriot’s payroll software is a relatively affordable payroll option that offers direct deposits, an employee portal, unlimited payrolls and multiple locations and pay frequencies. There’s also email, chat and phone support available.
Payroll4Free
NerdWallet’s pick for: Best overall free option.
Cost: Free (monthly fees apply for two optional services: tax filings and direct deposit).
Why we like it: Payroll4Free is one of the few payroll companies that allows you to run payroll at no cost — though you’ll have to pay extra for additional services such as tax filing and W-2 processing. It supports tax calculations, PTO tracking, an employee portal, and direct deposits or paper checks. It also offers live and email support.
RUN Powered by ADP
NerdWallet’s pick for: Larger businesses.
Cost: Prices begin at $59 per month plus $4 per employee for basic payroll, which includes tax filings and payments.
Why we like it: RUN Powered by ADP is the industry leader’s cloud-based payroll software for businesses with up to 49 employees. This app allows you to automate payroll, enter data online or by mobile app and, in more advanced subscription tiers, manage human resources tasks such as background checks.
| on ADP’s website |
About the authors: Claire Tsosie is an assigning editor for NerdWallet. Her work has been featured by Forbes, USA Today and The Associated Press. Read more
That was a complete list of free tools for entrepreneurs that they can use to maximize their profits. However, not every useful tool can be free.
Paid Tools for Business That You Can’t Miss
1. G-Suite
Emails are very important when it comes to establishing professional business communication. G-Suite gives your business to have a valid identity of its own. Besides, it provides several other features that facilitate business functions in the areas of documentation, presentations, and more.
Google Workspace Business Starter plan starts at ₹125 per user per month.
2. Ahrefs
Ahref lets you analyze your competitor’s website and understand what’s working for them and how you can improve. It enables you to better understand your customer’s needs. Every business today has an online presence. Ahrefs gives you insights on what your customers are searching for, which of your web pages are performing better, and much more.
There are many different typesof business software. Deciding which one is best for your business is not always easy and will often depend on:
- the size of your business
- the particular needs of your business
- the tasks that need to be automated
Common types of business software
Common types of software used in business are:
- word processing programs
- accounts software
- billing software
- payroll software
- database software
- asset management software
- desktop publishing programs
These usually come as bespoke products or off-the-shelf software.
Pros and cons of bespoke software
It is possible to build bespoke software specifically for your business. You can either:
- Write the software yourself. If you run a small business, writing the software yourself is unlikely to be cost-effective as you need to have significant expertise and lots of time.
- Have the software written by an external supplier. With specialist help, you should get the exact functionality you need. However, the price is likely to be high, and you will be tied to that supplier for future support.
Producing any bespoke software can take a long time and your staff should be able to input in the development process. For most small businesses, bespoke software may not be the best choice.
Pros and cons of packaged, off-the-shelf software
Packaged software is standardised and generally low priced in comparison to bespoke software. The functionality may not be exactly what you need, but it could make sense to change your business practices to suit the software rather than having software specially written.
The high volume of sales of such software usually means that you will be able to get support and training from a number of different sources.
Standard software packages are usually the best choice for small businesses. In some cases, you can modify the software to meet your requirements if it doesn’t include all the functions you need.
conclusion
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.