The 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.