How To Write the Perfect Business Plan: 10 Essential Steps - Novo
A business plan is a document that outlines your business goals and how you plan to achieve them. Ideally, this will become your roadmap for marketing, sales, ...
QuickBooks survey
While it’s not a requirement, having a business plan is strongly recommended. In a recent <anchor>QuickBooks survey</anchor>, nearly 70% of current business owners recommended writing a business plan.
New businesses have bold plans, according to a new survey - QuickBooks
New businesses have bold plans, according to a new survey - QuickBooks

2020-09-15 00:00:002024-09-12 00:00:00https://quickbooks.intuit.com/r/news/2020-small-business-survey/Newsenglishin the midst of COVID-19, but for many aspiring entrepreneurs, “a time like this” is just what they needed to bring their business idea to life.https://quickbooks.intuit.com/oidam/intuit/sbseg/en\_us/Blog/photography-qbo/stock/qbo-AdobeStock\_365413940.jpeghttps://https://quickbooks.intuit.com/r/news/2020-small-business-survey/New businesses have bold plans, according to a new survey - QuickBooks

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The tools and resources you need to get your new business idea off the ground.](https://quickbooks.intuit.com/r/starting-a-business/)
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Everything you need to start accepting payments for your business.](https://quickbooks.intuit.com/r/payments/)
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Resources to help you fund your small business.](https://quickbooks.intuit.com/r/funding/)
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Celebrating the stories and successes of real small business owners.](https://quickbooks.intuit.com/r/small-business-stories/)

[![An illustration of a person looking at a planning board to understand how to start a business.](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Graphic/how-to-start-a-business-revamp-header-image-us-en.png)](https://quickbooks.intuit.com/r/starting-a-business/how-to-start-a-business/)[How to start a business from scratch: 19 steps to help you succeed](https://quickbooks.intuit.com/r/starting-a-business/how-to-start-a-business/)

[![A gif of a book and laptop teaching viewer how to create a business plan with a business plan template](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Graphic/Business-plan-template-hero-animation.gif)](https://quickbooks.intuit.com/r/starting-a-business/business-plan-template/)[Free business plan template and how to fill it out](https://quickbooks.intuit.com/r/starting-a-business/business-plan-template/)

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Tax and bookkeeping basics you need to run and grow your business.](https://quickbooks.intuit.com/r/cash-flow/)
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Payroll essentials you need to run your business.](https://quickbooks.intuit.com/r/payroll/)
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Tax basics you need to stay compliant and run your business.](https://quickbooks.intuit.com/r/taxes/)
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Everything you need to know about managing and retaining employees.](https://quickbooks.intuit.com/r/manage-employees/)

[![A business owner assessing their company's cash flow.](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Illustration/what-is-cash-flow-header-image-us-en.jpg)](https://quickbooks.intuit.com/r/cash-flow/what-is-cash-flow/)[Cash flow guide: Definition, types, how to analyze](https://quickbooks.intuit.com/r/cash-flow/what-is-cash-flow/)

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Grow Your Business





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The tools and resources you need to take your business to the next level.](https://quickbooks.intuit.com/r/growing-a-business/)
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Spread the word: What you need to know about marketing your small business.](https://quickbooks.intuit.com/r/marketing/)
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How to find funding and capital for your new or growing business.](https://quickbooks.intuit.com/r/funding/)
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The tools and resources you need to manage your mid-sized business.](https://quickbooks.intuit.com/r/midsize-business/)
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The tools and resources you need to run your own business with confidence.](https://quickbooks.intuit.com/r/self-employed/)
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How to start and run a successful e-commerce business.](https://quickbooks.intuit.com/r/e-commerce/)

[![A graphic shows someone applying for small business grants online.](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Graphic/small-business-grants-hero.png)](https://quickbooks.intuit.com/r/funding/small-business-grants/)[45+ small business grants to apply for \[plus tips, resources, and alternatives\]](https://quickbooks.intuit.com/r/funding/small-business-grants/)

[![Image Alt Text](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Photography/Stock/payment-methods.jpg)](https://quickbooks.intuit.com/r/payments/small-business-payment-methods/)[How to choose the best payment method for small businesses](https://quickbooks.intuit.com/r/payments/small-business-payment-methods/)

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[![A group of people standing around a table.](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Photography/Stock/small-business-success-month-2024-hero-us-en.jpg)](https://quickbooks.intuit.com/r/small-business-data/success-2024/)[Small Business Success Month 2024: New data reveals what success looks like for small businesses this year](https://quickbooks.intuit.com/r/small-business-data/success-2024/)

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  - - [Starting a Business\
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      Guide\
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Everything you need to start accepting payments for your business.](https://quickbooks.intuit.com/r/payments/)
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Resources to help you fund your small business.](https://quickbooks.intuit.com/r/funding/)
- [Small Business Stories\
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Celebrating the stories and successes of real small business owners.](https://quickbooks.intuit.com/r/small-business-stories/)

[![An illustration of a person looking at a planning board to understand how to start a business.](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Graphic/how-to-start-a-business-revamp-header-image-us-en.png)](https://quickbooks.intuit.com/r/starting-a-business/how-to-start-a-business/)[How to start a business from scratch: 19 steps to help you succeed](https://quickbooks.intuit.com/r/starting-a-business/how-to-start-a-business/)

[![A gif of a book and laptop teaching viewer how to create a business plan with a business plan template](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Graphic/Business-plan-template-hero-animation.gif)](https://quickbooks.intuit.com/r/starting-a-business/business-plan-template/)[Free business plan template and how to fill it out](https://quickbooks.intuit.com/r/starting-a-business/business-plan-template/)

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  - - [Running a Business\
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      Guide\
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      The tools and resources you need to run your business successfully.](https://quickbooks.intuit.com/r/running-a-business/)
- [Accounting\
\
Accounting and bookkeeping basics you need to run and grow your business.](https://quickbooks.intuit.com/r/accounting/)
- [Cash Flow\
\
Tax and bookkeeping basics you need to run and grow your business.](https://quickbooks.intuit.com/r/cash-flow/)
- [Payroll\
\
Payroll essentials you need to run your business.](https://quickbooks.intuit.com/r/payroll/)
- [Taxes\
\
Tax basics you need to stay compliant and run your business.](https://quickbooks.intuit.com/r/taxes/)
- [Employees\
\
Everything you need to know about managing and retaining employees.](https://quickbooks.intuit.com/r/manage-employees/)

[![A business owner assessing their company's cash flow.](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Illustration/what-is-cash-flow-header-image-us-en.jpg)](https://quickbooks.intuit.com/r/cash-flow/what-is-cash-flow/)[Cash flow guide: Definition, types, how to analyze](https://quickbooks.intuit.com/r/cash-flow/what-is-cash-flow/)

[![Financial statements: What business owners should know](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Photography/Stock/reporting-overview-article-1.jpg)](https://quickbooks.intuit.com/r/bookkeeping/what-business-owners-should-know-about-financial-statements/)[Financial statements: What business owners should know](https://quickbooks.intuit.com/r/bookkeeping/what-business-owners-should-know-about-financial-statements/)

- Grow Your Business







  - - [Growing a Business\
      \
      Guide\
      \
      The tools and resources you need to take your business to the next level.](https://quickbooks.intuit.com/r/growing-a-business/)
- [Sales & Marketing\
\
Spread the word: What you need to know about marketing your small business.](https://quickbooks.intuit.com/r/marketing/)
- [Funding\
\
How to find funding and capital for your new or growing business.](https://quickbooks.intuit.com/r/funding/)
- [Midsize Businesses\
\
The tools and resources you need to manage your mid-sized business.](https://quickbooks.intuit.com/r/midsize-business/)
- [Self-Employed\
\
New\
\
The tools and resources you need to run your own business with confidence.](https://quickbooks.intuit.com/r/self-employed/)
- [E-Commerce\
\
How to start and run a successful e-commerce business.](https://quickbooks.intuit.com/r/e-commerce/)

[![A graphic shows someone applying for small business grants online.](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Graphic/small-business-grants-hero.png)](https://quickbooks.intuit.com/r/funding/small-business-grants/)[45+ small business grants to apply for \[plus tips, resources, and alternatives\]](https://quickbooks.intuit.com/r/funding/small-business-grants/)

[![Image Alt Text](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Photography/Stock/payment-methods.jpg)](https://quickbooks.intuit.com/r/payments/small-business-payment-methods/)[How to choose the best payment method for small businesses](https://quickbooks.intuit.com/r/payments/small-business-payment-methods/)

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      \
      Browse the latest news, press releases, and reports from QuickBooks.](https://quickbooks.intuit.com/r/news/)
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\
New\
\
Try out this free invoice generator to create an invoice online using Intuit Assist.](https://quickbooks.intuit.com/payments/invoicing/generator/)
- [Small Business Data\
\
New\
\
The latest research and insights for Small Businesses from QuickBooks.](https://quickbooks.intuit.com/r/small-business-data/)
- [Small Business Stories\
\
Celebrating the stories and successes of real small business owners.](https://quickbooks.intuit.com/r/small-business-stories/)
- [Success in Every Season\
\
Everything you need to thrive during your business's busiest seasons.](https://quickbooks.intuit.com/r/holidays/)
- [Multimedia Hub\
\
Listen to the Mind the Business podcast by QuickBooks and iHeart. Browse videos, data, interactive resources, and free tools.](https://quickbooks.intuit.com/r/multimedia-hub/)

[![Intuit QuickBooks Small Business Index ](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Graphic/IntuitQuickBooksSmallBusinessIndex-dashboard-header-image.jpg)](https://quickbooks.intuit.com/r/small-business-data/index/)[Intuit QuickBooks Small Business Index](https://quickbooks.intuit.com/r/small-business-data/index/)

[![A group of people standing around a table.](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/Photography/Stock/small-business-success-month-2024-hero-us-en.jpg)](https://quickbooks.intuit.com/r/small-business-data/success-2024/)[Small Business Success Month 2024: New data reveals what success looks like for small businesses this year](https://quickbooks.intuit.com/r/small-business-data/success-2024/)

- [Tools](https://quickbooks.intuit.com/r/resources/)







  - - [All Tools\
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      For you\
      \
      Free accounting tools and templates to speed up and simplify your workflow.](https://quickbooks.intuit.com/r/resources/)
- [AI-Powered Invoice Generator\
\
New\
\
Try out this free invoice generator to create an invoice online using Intuit Assist.](https://quickbooks.intuit.com/payments/invoicing/generator/)
- [Payment Cost Calculator\
\
Find out how much you could save by switching to QuickBooks Payments.](https://quickbooks.intuit.com/payments/cost-calculator/)
- [Paycheck Calculator\
\
Accurately estimate pay for all your employees.](https://quickbooks.intuit.com/payroll/paycheck-calculator/)

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# New businesses have bold plans, according to a new survey

By[Myranda Mondry](https://quickbooks.intuit.com/r/author/myranda-mondry/)

September 15, 20202 min read

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Here’s some good news for 2020: 72% of people looking to start a business within the next 12 months feel optimistic about their prospects. It’s not what you might expect during a time like this – in the midst of [COVID-19](https://quickbooks.intuit.com/small-business/coronavirus/) – but for many aspiring entrepreneurs, “a time like this” is just what they needed to bring their business idea to life.

In fact, 28% of people who plan to start a business within the next 12 months say the coronavirus only accelerated their plans. Another 42% say they’re finally making their side gig more official, according to the QuickBooks® survey.

[![Image Alt Text](https://quickbooks.intuit.com/oidam/intuit/sbseg/en_us/Blog/graphic-qbo/qbo-Intuit_SmallBusinessSurveyCTAs_DES_9-4-20_V1_WhatsNext_375px.png)](https://quickbooks.intuit.com/blog/us_blog/uploads/2020/09/Whats_next_for_the_small_business_economy-Sept_2020.pdf)

More than half of these new business owners plan to hire at least one employee within their first 12 months. Another 50% intend to hire at least one contractor.

But, starting a business looks a bit different than it did before the coronavirus. Nearly one in four new business owners say they plan to operate with a completely remote workforce. Remote work was rising in popularity long before the coronavirus, but in the wake of COVID-19, businesses across the country are considering a permanent shift to remote work.

Workers aren’t the only ones going digital. COVID-19 has changed how many consumers interact with small businesses, and experts predict that this surge in e-commerce is here to stay. In fact, 28% of small business owners say they are selling more products and services online, and 94% say the coronavirus directly influenced that change.

Additionally, many businesses had to rethink their products and service offerings to adapt to an e-commerce world. Of those who developed new products and services this year, 86% say they had done so as a result of the coronavirus. These changes certainly haven’t been easy, but they have highlighted the innovative spirit and resilience of small business owners worldwide.

[Read the full survey](https://quickbooks.intuit.com/blog/us_blog/uploads/2020/09/Whats_next_for_the_small_business_economy-Sept_2020.pdf) and learn more about [how to start a business](https://quickbooks.intuit.com/r/how-to-start-a-business/) in 2020 and beyond.

## Sample and methodology

Qualtrics distributed two online questionnaires to 1,600 people for QuickBooks in August 2020.

- Current small business owners: 965 people who currently own a small business completed a 25-question survey. These businesses employ up to 100 people and have annual revenues of at least $5,000. All respondents were ages 18 to 65 and older, with an average age of 46.
- Future small business owners: 635 future small business owners – defined as people who do not currently own a business, but intend to start one within the next 12 months – completed a 22-question survey. All respondents were ages 18 to 65 and older, with an average age of 37.

The [latest data](https://www.census.gov/data/tables/2017/econ/susb/2017-susb-annual.html) from the U.S. Census Bureau’s Statistics of U.S. Businesses published in March 2020 shows that, in 2017, there were 5,907,070 U.S. businesses with zero to 100 employees. Based on this, taking the total sample of 1,600, the data has a 99% confidence level at a 3% confidence interval. Margins vary for subgroups.

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May 28, 2019](https://quickbooks.intuit.com/r/accountant-advice/taking-your-small-business-to-the-next-level-challenges-tips/)

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**QuickBooks Live Assisted Bookkeeping:** This is a monthly subscription service offering ongoing guidance on how to manage your books that you maintain full ownership and control. When you request a session with a Live Bookkeeper, they can provide guidance on topics including: bookkeeping automation, categorization, financial reports and dashboards, reconciliation, and workflow creation and management. They can also answer specific questions related to your books and your business. Some basic bookkeeping services may not be included and will be determined by your Live Bookkeeper. The Live Bookkeeper will provide help based on the information you provide.









**QuickBooks Live Full-Service Bookkeeping:** This is a combination service that includes QuickBooks Live Cleanup and QuickBooks Live Monthly Bookkeeping.









1\. QuickBooks Online Advanced supports the upload of 1000 transaction lines for invoices at one time. 37% faster based off of internal tests comparing QuickBooks Online regular invoice workflow with QuickBooks Online Advanced multiple invoice workflow.









2\. Access to Priority Circle and its benefits are available only to customers located in the 50 United States, including DC, who have an active, paid subscription to QuickBooks Desktop Enterprise or QuickBooks Online Advanced. Eligibility criteria may apply to certain products. When customers no longer have an active, paid subscription, they will not be eligible to receive benefits. Phone and messaging premium support is available 24/7. Support hours exclude occasional downtime due to system and server maintenance, company events, observed U.S. holidays and events beyond our control. Intuit reserves the right to change these hours without notice. Terms, conditions, pricing, service, support options, and support team members are subject to change without notice.









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**QuickBooks Money:** QuickBooks Money is a standalone Intuit offering that includes QuickBooks Payments and QuickBooks Checking. Intuit accounts are subject to eligibility criteria, credit, and application approval. Banking services provided by and the QuickBooks Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. QuickBooks Money [Deposit Account Agreement](https://quickbooks.intuit.com/payments/legal/qbmoneycard/toc92020/greendot/) applies. Banking services and debit card opening are subject to identity verification and approval by Green Dot Bank. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.









**QuickBooks Commerce Integration:** QuickBooks Online and QuickBooks Commerce sold separately. Integration available.









**QuickBooks Live Bookkeeping Guided Setup:** The QuickBooks Live Bookkeeping Guided Setup is a one-time virtual session with a QuickBooks expert. It’s available to new QuickBooks Online monthly subscribers who are within the first 30 days of their subscription. The QuickBooks Live Bookkeeping Guided Setup service includes: providing the customer with instructions on how to set up chart of accounts; customized invoices and setup reminders; connecting bank accounts and credit cards. The QuickBooks Live Bookkeeping Guided Setup is not available for QuickBooks trial and QuickBooks Self Employed offerings, and does not include desktop migration, Payroll setup or services. Your expert will only guide the process of setting up a QuickBooks Online account. Terms, conditions, pricing, special features, and service and support options subject to change without notice.









**QuickBooks Time tracking:** Additional fees may apply. Time tracking included in the QuickBooks Online Payroll Premium and Elite subscription
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