New hope has emerged for businesses hit by a double-dip recession, rising unemployment and a reluctance by banks to lend.
Things may be about to change with the announcement that £25 million worth of business funding is up for grabs.
Businesses in the city have until the end of July to make their claim for a share of the Going for Growth cash, which is being handed out by the West of England Local Enterprise Partnership (LEP).
The Bath Chronicle has teamed up with the LEP to help encourage companies to apply for a share of the money, which they can use to help with training, research and development, expansion or the recruitment of disabled or disadvantaged workers.
The money, from the Government's Regional Growth Fund, also aims to safeguard and create jobs by matching public and private investment.
Bath businesses can apply for grants of between £10,000 and £1 million.
LEP chairman and chief executive of Bath-based Wessex Water, Colin Skellett, said the new fund marked an important milestone.
He said: "One of our original aims was to encourage economic growth by removing obstacles. Often it is a problem accessing finance which stops businesses developing and creating new jobs.
"This growth fund will go some way to helping deal with that issue and I hope many businesses come forward to make use of it."
Ian Bell, director of Business West Bath, said firms that had become stagnant in recent years in an attempt to weather the storm now had an opportunity.
He said: "We have lots of successful and ambitious local companies but many of them have reacted to the economic downturn by taking a cautious approach to investment. That's hardly surprising with the challenges they are facing and it's natural that they don't want to take too many risks.
"By making a contribution to the cost of investment, the RGF could just provide the key to unlocking development by giving businesses what amounts to the comfort of a financial safety net.
"The areas that qualify for the grants also apply to many different sectors. So it could be a manufacturer deciding to buy a big new machine, a high tech company starting a research and development project, a creative firm running a training programme or perhaps a retailer putting more effort into the recruitment of disabled or disadvantaged workers. There really is something in this for everyone."
The Growth Fund will be used to support distinct projects or activities, which would otherwise not happen at all or which would be bigger or delivered more quickly as a result of the extra help.
