Out of 4,928 firms launched in 2004, the average price tag for a new business was $109,016, according to growthology.com, a blog of the Kaufman Foundation.

In the study, the largest amount of funding came from bank loans at 34.9 percent, while 30 percent of funding came from personal savings. Funding from friends and family had a 6.2 percent share in money invested in start-ups while credit cards made for another 6.2 percent of average investments.

“While it is truly a dumb idea to use credit cards as a source of start-up funding, given the ridiculously high interest rates the credit card companies charge, people still do it,” said Paul B. Brown, co-author of "Just Start: Take Action; Embrace Uncertainty and Create the Future," in a blog post for Forbes.

The average start-up costs for companies without employees was $44,793 while home-based businesses averaged a start-up cost of $58,448.

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