Official UK procurement notice
Award of Review of the Business Finance Landscape in Wales
Authority: Development Bank of Wales (Central government)
What is being bought
Published requirement descriptionThe Development Bank of Wales has completed an open procedure for the appointment of an appropriately qualified economic consultancy or research provider to undertake an independent review of the business finance landscape in Wales.
The contract covers an initial Phase 1 review to assess how effectively current public, private and alternative finance provision meets the present and anticipated future needs of businesses in Wales. It includes mapping the existing finance landscape, assessing supply and demand, identifying finance gaps, market frictions, affordability constraints and potential market failures, undertaking targeted stakeholder engagement, and producing independent, evidence-led and decision-ready findings and recommendations.
The contract also includes options for additional thematic research or related services, subject to the outcomes of Phase 1, budget availability, internal approvals and future commissioning decisions. These optional services are not guaranteed.
Following evaluation of the tenders received, the Development Bank of Wales intends to enter into the contract with Grant Thornton UK Advisory & Tax LL. The contract has an initial term of 12 months, with options to extend by up to three further 12-month periods
The value stated in this notice reflects the awarded Phase 1 requirement only. As detailed in the tender documentation and UK4 Tender Notice, additional phases may be commissioned subject to the availability of Welsh Government funding and may increase the total contract value.
CPV: Business and management consultancy and related services · Foreign affairs and other services · Research and development services and related consultancy services
The lotProcurement structure
single lot · value publishedLot #1AwardedRenewalPublished value£125,000
- Economic & financial standing
Suppliers must demonstrate that they have the legal and financial capacity and the technical ability necessary to perform the contract.
The conditions of participation are set out in full in the procurement documents.
- Technical & professional ability
Suppliers must demonstrate:
relevant experience of economic, policy and market research;
experience relating to business finance, SME finance, access to finance, regional economic development or comparable subject areas;
the ability to map and assess public, private and alternative finance provision;
experience of identifying market gaps, constraints, frictions and market failures;
strong quantitative and qualitative analytical capability;
experience of evidence assessment, data analysis and targeted stakeholder engagement;
an understanding of the Welsh economy, policy environment and business base, or the ability to obtain and apply this understanding;
the ability to produce independent, credible and decision-ready research outputs;
appropriate research governance and quality assurance arrangements; and
sufficient suitably qualified personnel and capacity to deliver the contract within the required timetable.
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Published sub-criteria (7)
- Understanding of the brief: 10%
- Proposed methodology and research approach: 25%
- Programme management, deliverability and governance: 15%
- Experience of similar projects and team capability: 20%
- Quality assurance and output quality: 10%
- Pricing schedule: 15%
- Social value and sustainability: 5%
Published award criteria (7)
- Understanding of the brief: Understanding of the requirement and Welsh business finance context
- Proposed methodology and research approach: Proposed methodology and research framework
- Programme management, deliverability and governance: delivery plan for Phase 1
- Experience of similar projects and team capability: demonstrate your experience in economic and policy-facing research, finance market analysis, SME finance, development finance or regional economic development.
- Quality assurance and output quality: quality assurance process for this commission, including peer review, data validation and review of assumptions.
- Social value and sustainability: describe how your organisation will deliver proportionate social value through this contract.
- Pricing schedule
- Economic & financial standing
Suppliers must demonstrate that they have the legal and financial capacity and the technical ability necessary to perform the contract.
The conditions of participation are set out in full in the procurement documents.
- Technical & professional ability
Suppliers must demonstrate:
relevant experience of economic, policy and market research;
experience relating to business finance, SME finance, access to finance, regional economic development or comparable subject areas;
the ability to map and assess public, private and alternative finance provision;
experience of identifying market gaps, constraints, frictions and market failures;
strong quantitative and qualitative analytical capability;
experience of evidence assessment, data analysis and targeted stakeholder engagement;
an understanding of the Welsh economy, policy environment and business base, or the ability to obtain and apply this understanding;
the ability to produce independent, credible and decision-ready research outputs;
appropriate research governance and quality assurance arrangements; and
sufficient suitably qualified personnel and capacity to deliver the contract within the required timetable.
- Price carries 15 of 100 points: a 10% discount moves about 1.5 points. The method statement decides this lot, not the discount.
Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.
Procedure terms & legal framework
From the official record- Procedure method
- Open procedure
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Procurement category
- Services
- Notice status
- Awarded
- Procurement threshold
- Above threshold (FTS publication)
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- Unspecified in notice
- First published
- 13 Aug 2026, 14:56 BST
- Last source update
- 21 Oct 2026, 10:03 BST
- Award evaluation window
- Submission end – 12 Oct 2026
- Authority reference
DBW00226.00- FTS notice number
2026/S 000-083605- Latest notice
- Contract award notice (UK6)
- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-06e3beFind a Tender- Contract terms summary
DBW currently operates a standard payment term of 30 days following receipt of an accurate invoice. All invoices are required to include the unique identifier DBW00226.00. Failure to provide this number within the invoice may result in the invoice being rejected and payments being delayed.
- Risks
The following risks may jeopardise the satisfactory performance of the contract and should be considered by tenderers when preparing their tender responses. These risks may also be relevant to any future contract management decisions or lawful contract modifications, where permitted under the Procurement Act 2023 and the procurement documents. The risks include: incomplete, unavailable or inconsistent evidence or data; changes in Welsh Government policy priorities or related public finance work; stakeholder availability or engagement challenges, including Welsh-medium engagement requirements; delays to agreed milestones, draft outputs or final reporting; scope refinement following Phase 1 findings; the need to confirm, refine, defer, omit or commission further thematic deep-dive work after the Phase 1 review point; publication, confidentiality or commercially sensitive information issues; analytical independence or conflict of interest concerns; information security, data protection or AI-related risks; key personnel or specialist capability changes; affordability, budget or value-for-money constraints; and any other risk that could affect delivery quality, timetable, outputs, governance, stakeholder confidence or the usefulness of the review. Phase 1 only is confirmed at award.
Further thematic work may be confirmed, refined, deferred or omitted after the Phase 1 review point.
Potential future outputs may include:
venture, innovation and scale-up finance;
infrastructure, project finance and capital structuring;
ownership transition and succession finance;
commercial property, premises and development finance; and
final synthesis work.
Any later work will depend on evidence, priorities, budget, capacity, policy context and governance approval.
Data quality, stakeholder access, Welsh-medium engagement, confidentiality/publication and AI assurance are all potential delivery risks.
How it was run
Official notice- Submission deadline
- 28 Sept 2026, 12:00 BST
- Clarification deadline
- 21 Sept 2026, 12:00 BST
- Submission channel
- Official e-sourcing portal
- Electronic submission
- Allowed
- Accepted languages
- en
Timeline
13 Aug 2026 → 26 Oct 2026 · 10 dates- Planning notice published71 days ago13 Aug 2026, 14:56 BST
- Market engagement52 days ago31 Aug 2026, 23:59 BST
Interested suppliers should register on the relevant procurement portal following publication of this notice and ensure their supplier profile and contact details are up to date. The procurement will be conducted as an Open Procedure in accordance with the Procurement Act 2023, with all procurement documents issued through eTenderWales.
As part of the engagement process, EIW is seeking to increase market awareness and provide suppliers with an opportunity to understand the requirement, anticipated contract scope, procurement timetable and submission requirements. Any clarification questions should be submitted through the portal to ensure equal treatment and transparency. Responses will be shared with all interested suppliers where appropriate.
Suppliers are encouraged to review all published documentation and monitor the portal for updates, clarifications and any supplementary information issued during the engagement period. The engagement period will close on 20 August 2026 (estimated), after which the tender opportunity will proceed in accordance with the published procurement documents.
- Tender notice published50 days ago3 Sept 2026, 16:10 BST
- Next notice expected49 days ago3 Sept 2026, 23:59 BST
- Clarification questions by32 days ago21 Sept 2026, 12:00 BST
- Submission deadline25 days ago28 Sept 2026, 12:00 BST
- Award decision expected by10 days ago12 Oct 2026, 23:59 BST
- Assessment summaries sent4 days ago19 Oct 2026, 00:00 BST
- Latest notice published2 days ago21 Oct 2026, 10:03 BST
- Today23 Oct 2026
- Contract startsin 3 days26 Oct 2026
Notice history
8 events · 3 releases on Find a Tender · since 13 Aug 2026- Preliminary market engagement notice published13 Aug 2026, 14:56 BSTUK2
- Tender notice published3 Sept 2026, 16:10 BSTUK4
- Status changed to active3 Sept 2026, 16:10 BST
- Procurement method changed3 Sept 2026, 16:10 BST
- Deadline published: 28 Sept 2026, 12:00 BST3 Sept 2026, 16:10 BST
- Contract award notice published21 Oct 2026, 10:03 BSTUK6
- Status changed to complete21 Oct 2026, 10:03 BST
- Contract signature expected26 Oct 2026, 23:59 GMTscheduled
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| GRANT THORNTON UK ADVISORY & TAX LLPReview of the Business Finance Landscape in Wales26 Oct 2026 – 25 Oct 2027 · up to 25 Oct 2030Extensions: 3 years in 12 month increments · Options: Subject to the outcomes of Phase 1, budget availability, internal approvals and future commissioning decisions, the Development Bank of Wales may require additional thematic research or related services. Potential additional work packages may include: venture, innovation and scale-up finance; ownership transition and succession finance; commercial property, premises and development finance; infrastructure, project finance and capital structuring; additional data collection or stakeholder engagement; focused updates or refreshes to the Phase 1 evidence base; and final synthesis, policy analysis and reporting. These additional work packages are not guaranteed. The Development Bank of Wales gives no commitment regarding the volume, value or timing of optional services that may be commissioned. | £125,000 | 19 Oct 2026 | Awarded |
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 9final-stage tenders | 2 | 0 | — |
Contracting authority & participating public bodies
Bidders & participating suppliers
1 commercial party on the notice- Grant Thornton UK Advisory & Tax LLPAwarded supplier
Official documents & specifications (5)
Official links; attachments are not copiedTender pack and attachments
- Bidding documents and specifications Invitation to tender
- Technical specifications Please review tender documentation
Notices published for this procedure
- Contract award notice Contract award notice on Find a Tender
- Tender notice Tender notice on Find a Tender
- Preliminary market engagement notice Preliminary market engagement notice on Find a Tender