Ways to Finance a New Business

10 Ways to Finance a New Business<br /><br />When you were eight years old, you launched a highly profitable lemonade stand in your front yard. With nothing but a packet of instant drink mix, a crudely drawn sign and a winning smile, you grossed a whopping $2.35 in just an hour and 15 minutes. If only all new businesses were that easy.<br /><br />According to the Global Entrepreneurship Monitor, a research group, the average cost of starting a new business in the United States in 2005 was $70,000 source: Consumer Reports. In a 2004 survey of failed businesses, 79 percent of respondents said that starting out with too little money was a major cause of their collapse source: Sugars.<br /><br />But how do you finance a new business? When you were eight, you could borrow the drink mix from mom. But now that youre grown up, will she let you borrow her life savings?<br /><br />Luckily, youre not the first entrepreneur to start with nothing but a good idea. Keep reading to learn about 10 effective and creative ways to raise start up capital for your new business.