33 Best Tools for Small Businesses – Free & Paid + Free eBook

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best tools for small businesses | iTMunch

Running a small business has its set of challenges. With the right software and tools at your disposal, tackling these challenges becomes easier. More software and tools are being developed by companies around the world that understand the needs of small businesses and want to help them operate more effectively. The best tools for small businesses available out there help in bridging communication, productivity and collaboration gaps. There are hundreds of tools available for small businesses like you, the key is to pick the right ones that suit your requirements and cater to the nature of your work.

Small business management tools can help you conquer routine tasks from tracking employee progress to more important things like taxation. The pandemic has also increased the dependence of businesses (small, medium and large) on these software as remote working continues to evolve. Harnessing these tools will only empower you to communicate more seamlessly with your team, get amazing results faster with better coordination and ultimately keep your business thriving.

We have curated a list of 33 paid and free tools for small businesses that will be helpful in different departments, namely – Accounting & Bookkeeping, Taxation, HR & Recruiting, Team Communication, Website Creation, Ecommerce Integration, Marketing Automation, Email Marketing, Social Media Automation, Online Payment Tools and a few other miscellaneous tools. So, if you’re looking for the right tools to grow your small business, read along.

Accounting & Bookkeeping

Accounting & Bookkeeping | iTMunch

1. Xero

Xero is an all-in-one solution that helps in keeping records tidy and making compliance easy. The software is designed to automate everyday tasks, such as reporting and invoicing and filing end-of-year returns. The software aims at giving you a clear financial picture of your business. Through Xero, you can pay bills, accept payments, claim expenses and track projects. Additionally, Xero is also equipped with tools to help you perform bank reconciliations. According to its website, Xero is currently helping more than 2 million subscribers all over the globe transform how they manage their accounts.

Free Trial: Xero offers a 30 day free trial

Pricing: Plans start at $20 per month and go up to $40 per month. Add-ons, like ‘Claim Expenses’ and ‘Track Projects’ can be purchased at an additional cost.

2. Wave 

This is one of the best tools for small businesses for accounting. A good thing about this software is that it is available for free. That’s right, it charges no set-up fees, no monthly fee or any other hidden fee to its users. Wave offers both its Accounting software and Receipt Scanning software for absolutely no cost. Using their accounting software, you can track your income & expenses, track your sales tax on expenses & income and add unlimited accountants, partners & collaborators. The software has a fully-functional double-entry system and provides insightful reports on Profit & Loss, Overdue Invoices and Bills and Cash Flow.

Pricing: The software is entirely free to use

3. FreshBooks

If you are a service-based small business, then the accounting software by FreshBooks is one of the small business management tools you can go for. Their software offers more features for customization of invoicing than any other software. The primary function of FreshBooks accounting software is to send, receive, pay and print invoices but it is also designed to take care of basic bookkeeping needs of small businesses. The software is cloud-based, has a user-friendly interface, allows easy third-party integration and offers advanced invoicing features. However, the accounting software by FreshBooks doesn’t have any inventory management tools or a payroll service.

Free Trial: 30-day free trial available

Pricing: They have various pricing plans depending on the number of Billable clients. Their Lite plan that allows 5 Billable clients is priced at $4.50 a month and Plus at $7.50 a month at 50 billable clients.

SEE ALSO: What is content distribution, its channels & categories + Free content marketing budget template

Taxation

1. TaxAct 

best tools for small businesses - taxation | iTMunch

If you’re a seasoned business owner who is familiar with taxation, TaxAct is the best choice. It is cheap, offers all the features you might need and is super easy to use. It also has tax tools such as W 4 Calculator, Tax Calculator, Tax Bracket Calculator, Self-Employment Calculator and other Self-Employment resources. It has 300+ available deductions and credits for your benefit. After filing your returns, you can also check your e-filing status and track your IRS Refund.

Free: No free trial available for businesses

Pricing: For businesses, it has plans starting from $64.94 for Sole Proprietors that go up to $109.95 for S Corporations. The amount has to be paid once at the time of filing.

2. TurboTax by Intuit

One of the best tools for small business owners for taxation purposes is TurboTax. The software allows you to file your simple federal and simple state tax returns easily. TurboTax by Intuit covers industries like online sales, personal and professional services, rideshare and much more. It also allows you to search for industry-specific deductions. In case you don’t have an idea how to go about filing your taxes, TurboTax experts can also take care of your end-to-end taxation needs. The software can also provide you with on-demand expert review before finally filing your taxes.

Free Trial: Doesn’t offer a free trial.

Pricing: $90 to be paid at the time of tax filing

3. H&R Block

For taxation, H&R Block is one of the best tools for small businesses. It provides you a seamless tax filing experience through its intuitive interface along with a variety of useful features. For first timers, the platform also offers an accuracy review to help them get the most refund. H&R Block offers storage for up to six years of tax returns. Additionally, it offers a no-cost in-person audit support along with free access to tax experts. Moreover, it offers chat, telephone support and step-by-step guidance to help you file your taxes easily and on time.

Pricing: Ask for quote

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SEE ALSO: 8 Important Reasons For Writing a Business Plan + A Free Business Plan Template in Word

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Riddhi Jain is a technology content writer. She is based in India and has been working as a content writer since 2018. Riddhi has been writing content in the tech domain since May 2020 and can’t get enough of it. Riddhi has pursued most of her education from her hometown, Indore. She has graduated as a Bachelor of Business Administration and discovered her love for writing blogs while pursuing an internship during college. Once she discovered her love for writing, she went on to improve this skill set (and hasn’t stopped since). Riddhi’s writing relationship with iTMunch began in May 2020. This is where she developed a knack for writing content for the technology domain. She's an expert in tech content writing who has written over 700 blogs for iTMunch in just a year. Riddhi loves diving deep into tech sub-domains like financial technology, marketing technology, HR technology, Artificial Intelligence and gaming technology. She loves staying updated with the latest and upcoming trends in digital marketing, digital payments, fintech, gaming, web design and app development. She cherishes writing about futuristic technologies like blockchain and cryptocurrency, NFTs, Internet of Things, Facial Recognition, Machine Learning, Edge Computing, etc. Riddhi also likes to keep an eye on what’s going on with the tech titans like Google, Facebook and Apple. One of her major interests is in staying updated with the latest IT startups and the groundbreaking technologies they’re coming up with. When Riddhi is not writing content, she is binging on documentaries on Netflix (check out ‘The Great Hack’, ‘Seaspiracy’, and ‘What the Health’). She also likes reading books once in a while (Yuval Noah Harari and Michelle Magorian are some of her favorite authors). Riddhi also likes listening to podcasts like The Tim Ferriss Show (do listen to the ones with guest Naval Ravikant) and The Joe Rogan Experience.