Award

Procurement of an external challenge function for the British Business Bank (BBB) growth fund

DEPARTMENT FOR INTERNATIONAL TRADE

This public procurement record has 1 release in its history.

Award

11 Jul 2024 at 15:42

Award Notice
Summary of the contracting process

The Department for International Trade has awarded a consultancy contract for the procurement of an external challenge function for the British Business Bank (BBB) growth fund. The tender involved designing an investment vehicle and commercial proposition, aiming to seek FCA regulatory approval and launch the Growth Fund into the market. The procurement method used was selective, calling off from a framework agreement. The contract period started on 20th May 2024 and ended on 21st June 2024, with a contract value of £40,000.

This procurement process by the Department for International Trade offers business growth opportunities for consultancy firms specializing in business and management consultancy services. The tender was focused on creating a report with key findings and engaging in follow-up discussions. Businesses well-suited to compete would need expertise in fund impact assessment, model design, governance structure, and overall capability evaluation. The location for this opportunity is in London, United Kingdom, with a deadline for tender submissions set for 8th April 2024.

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Notice Information

Notice Title

Procurement of an external challenge function for the British Business Bank (BBB) growth fund

Notice Description

BBB, the Department for Business and Trade (DBT), His Majesty's Treasury (HMT) and UK Government Investments (UKGI) are looking to appointment a consultancy to help design an investment vehicle and commercial proposition ahead of seeking FCA regulatory approval and launching the Growth Fund into the market. The key deliverable will be a report with an accompanying presentation to discuss key findings, with a subsequent period of follow up engagement for any clarification of the report's contents, which sets out the adviser's assessment of fund impact, model & governance and capability.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-38389655-2b74-4e46-be26-c32204043a7e
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/d6244138-c71d-4604-aba9-bfca6c19387f
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79400000 - Business and management consultancy and related services

Notice Value(s)

Tender Value
£40,000 Under £100K
Lots Value
Not specified
Awards Value
£40,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
11 Jul 20241 years ago
Submission Deadline
8 Apr 2024Expired
Future Notice Date
Not specified
Award Date
30 Apr 20241 years ago
Contract Period
19 May 2024 - 21 Jun 2024 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR INTERNATIONAL TRADE
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1A 2DY
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI London
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

PRICEWATERHOUSECOOPERS

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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