---
title: "Procurement of an external challenge function for the British Business Bank (BBB) growth fund"
ocid: "ocds-b5fd17-38389655-2b74-4e46-be26-c32204043a7e"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-38389655-2b74-4e46-be26-c32204043a7e"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-38389655-2b74-4e46-be26-c32204043a7e.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-38389655-2b74-4e46-be26-c32204043a7e.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "DEPARTMENT FOR INTERNATIONAL TRADE"
published: "2024-07-11"
---

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

Buyer: DEPARTMENT FOR INTERNATIONAL TRADE  
Current stage: Award  
OCID: ocds-b5fd17-38389655-2b74-4e46-be26-c32204043a7e

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## Summary

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.

## Notice

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.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/d6244138-c71d-4604-aba9-bfca6c19387f |
| 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 |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 11 Jul 2024 |
| Submission deadline | 8 Apr 2024 |
| Future notice date | Not specified |
| Award date | 30 Apr 2024 |
| Contract period | 19 May 2024 - 21 Jun 2024 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £40,000 |
| Lots value | Not specified |
| Awards value | £40,000 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | DEPARTMENT FOR INTERNATIONAL TRADE |
| Locality | LONDON |
| Post town | South West London |
| Postcode | SW1A 2DY |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | TLI London |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | PRICEWATERHOUSECOOPERS |

## CPV Codes

### Divisions

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

### Codes

- 79400000 - Business and management consultancy and related services

## Release History

- 11 Jul 2024 at 15:42 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/d6244138-c71d-4604-aba9-bfca6c19387f

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/d6244138-c71d-4604-aba9-bfca6c19387f
  11th July 2024 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/0dfb9a1d-50d8-4fff-a338-342022f2bcf6
  n/a

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-38389655-2b74-4e46-be26-c32204043a7e. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-38389655-2b74-4e46-be26-c32204043a7e.json.