Setting up a new company Follow

LivePlan lets you create as many companies as you’d like - there is a limit on how many of these can be "active" at one time, but no limit on the number you can create and keep in your archive. You do not have to pay extra to have more than one company in your account.

Creating multiple companies gives you the flexibility to plan for multiple business ideas or test several feasibility scenarios for the same idea. You can easily switch between companies in your account using the Companies menu.

Tip: If you are already at your company limit, and you don't want to upgrade to a higher limit, just archive your active company first and then add a new company. There is no limit to the number of companies you may keep in your archive.

 

Getting started

If you've just created a LivePlan account, you'll automatically be taken to the Create a new company page.

If you have an existing account and want to add another company, archive your existing company, and then click the Companies menu. Click Create New Company:

createnewcompany).png#asset:900

 

Step 1: Enter a company name

Be sure to give each company a unique and meaningful name (between 2 and 60 characters long). LivePlan allows you to have more than one company with the same name, but this isn't recommended.

The name you enter will appear on your Pitch and at the top of each page of your business plan document. It will also help you distinguish this company from the others in your account:

entercompanyname.png#asset:905

 

Step 2: Choose a business stage

Are you planning for a new start-up, or an existing company? The business stage you choose here just helps LivePlan include a couple of relevant sections in your plan outline, such as a Company History section for existing businesses:

business stage.png#asset:894

 

Step 3: Decide when your forecast should start

Think about when you will begin to execute your business plan, and then choose the month and year. We recommend selecting a date that reflects when you first begin to experience financial activity, such as spending or sales, or important milestones. This way, the start-up costs you make as you prepare to open your business are captured in your forecast.

Note: you can change the start date of your forecast later.

starte of forecast.png#asset:918

 

Step 4: Select the length of your forecast

Choose whether you want your forecast to extend three years into the future or five:

Note: you can change the length of your forecast later.

lengthofforecast.png#asset:907

 

Step 5: Decide how detailed your forecast will be

Indicate how many of those years you'd like to have expressed in monthly forecast numbers (rather than annual totals). The first year of your forecast defaults to having monthly detail, and you can add up to three years:

Note: You can change the monthly detail setting any time.

monthlydetail.png#asset:908

 

Step 6: Choose the currency you want to use

For each company in your LivePlan account, you can designate the currency symbol you want to use.

Note: This setting only changes the currency symbol; it does not perform currency conversions. The numbers you enter will remain the same regardless of the currency symbol you choose here. Once you've created your company, you can change the currency setting again on the Options tab.

currency.png#asset:902

If the symbol you want to use isn't listed, choose Other and enter the desired symbol in the field provided:

currency other.png#asset:901

 

Step 7: Choose a plan language

All of LivePlan's instructions and examples are in English. You're welcome to write the content of your pitch and plan in any language you choose. LivePlan can translate the section titles and table labels into six languages. Select the language of your choice:

change-plan-language-setup__1_.png

 

Create your company

When you have completed all of the selections on this page, click Create Company:

createcompany button.png#asset:899

Was this article helpful?
12 out of 12 found this helpful
Have more questions? Submit a request

Comments

0 comments