BikeBiz Bicycle and cycling retail news
Cyclescheme has reached one million cycle to work certificate requests.
The cycle to work scheme has existed since 1999 and grew in popularity from 2005 when Cyclescheme became the first cycle to work provider. Cyclescheme offers an end-to-end service for employers, a simple way for businesses to provide employees with savings on a bike or bike accessory purchased tax-efficiently via salary sacrifice.
Neil McGuigan, senior manager, product implementation at Cyclescheme, said: “This is a momentous milestone for Blackhawk Network. We are proud that our Cyclescheme benefit has opened the world of cycling to so many employees and boosted trade for industry retailers.
“We’ve generated £750 million for the cycle industry since our inception, and we look forward to fulfilling the next million Cycle to Work scheme certificates and continuing our journey in creating more cyclists.”
The benefits of the Cyclescheme reached local bike shops, increasing footfall, revenue, and repeat custom. In 2009, Cyclescheme was recognised as the fastest-growing private company in the UK by The Times, having quoted 348% growth in three years.
Today, it has over 50,000 employers and 2,000 retailers, and across the full history of Cyclescheme there have been over 4,000 retailers.
Cycle to work provider Cyclescheme, part of Blackhawk Network, saves employees 26-40% on a bike and accessories. Employees can purchase a bike or accessories via payments taken tax efficiently via salary sacrifice.
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Earlier this month, Cyclescheme pledged its support to the industry initiative Investors in Cycling, the Bicycle Association’s (BA) programme promoting the growth of cycling through advocacy.
The partnership will strengthen the BA’s portfolio of advocacy projects delivered on behalf of the UK cycling industry, including its Growing the Local Bicycle Economy project.
Already mobilised in London, this project brings local industry and advocacy partners together to make the economic case for cycling and secure infrastructure and wider investment, and the BA aims to roll this project out to new regions in 2022 with support from Investors in Cycling.
