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12 Jan 2023

New banknotes featuring King Charles are to enter circulation by mid-2024. The King’s portrait will appear on four polymer banknotes (£5, £10, £20, and £50)....

12 Jan 2023

The government has announced it is to scale back support for businesses and their energy bills after warning that the current level of help was too expensive.

10 Jan 2023

With retail finance schemes remaining a preferable route for retailers to boost sales during recession than the financial hit required by heavy product discounting, the Association of Cycle...

10 Jan 2023

Portugal has become the first EU country to cut VAT on bicycle purchases this year, from 23% to 6%.

9 Jan 2023

Cycling UK says that its Big Bike Revival programme, which encourages people to get unused bikes out of their garages and sheds and start using them for everyday trips, has led to a third of...

9 Jan 2023

Transport for London’s (TfL) cycle hire scheme saw more bikes hired during 2022 than any other year in the scheme’s history, with 11.5 million rentals across the year.

5 Jan 2023

To celebrate the release of the new Independent Coffee Guide Scotland for 2023, a coffee road trip across Scotland has been unveiled with eight 'must visit' destinations. The road trip passes...

4 Jan 2023

Cytech are gearing up to exhibit at this year's Cycle Show once again at Alexandra Palace, providing practical advice and answering any questions visitors may have about working on their bikes.

4 Jan 2023

BBC analysis has shown that beauty salons and tattoo parlours have prospered on high streets while the number of banks and department stores has fallen. Places to eat and drink have also...

3 Jan 2023

Millions are being encouraged to walk and cycle more this year to get fit and save money, with an additional £32.9 million of government funding to accelerate walking and cycling schemes...

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Confront the recession head on, says the ACT.

Posted on in Business News , Cycles News

Cycle retailers around the UK facing up to the imminent challenges of recession will need to stay one step ahead of the curve to survive. Now is the time to benefit from being part of something bigger and by joining the UK’s largest retail organisation – the Association of Cycle Traders (ACT) - IBDs will not only find access to the wide portfolio of essential business services but also the day-to-day support that is often needed during these hard-hitting times.

ACT

“The retail sector is facing significant challenges, with pressure on household budgets and disposable incomes and the Bank of England predicting that the UK could be facing its longest recession since records began,” explains the ACT’s Jonathan Harrison. “And there are signs that this is already affecting the cycle retail sector. It was reported in August that UK bike sales were down a quarter on pre-pandemic levels. Total cycle market volume and value were down by 28% and 26% respectively in the first half of 2022 compared with the first half of 2021. Recovery is now likely to be slower than once anticipated.”

But, Harrison adds, with strength in numbers, the ACT, the Association of Cycle Traders, provides a face for the cycle retail sector, leveraging support from both its membership and across the industry to deliver for its more than 4275 entities, which range from mobile mechanics and garden workshops to some of the sector’s largest brands, including Madison, ZyroFisher and Giant.

“Whilst the ACT community has increased by more than 30% in last the last five years, the average cost of ACT membership has reduced by a similar figure over the past four years,” he continues. “So we think cycle retailers will really benefit from being part of something bigger.”

But what are the key benefits you get for that membership?

1.    If you take card payments face-to-face, over the phone or online – or if you’re new to card payments – the ACT new partnership with Tyl by NatWest could make it easier for your customers to pay you in a fast, secure way.  If you sign up and pay for your membership – and silver membership costs just £60 per annum - and then sign up with Tyl you’ll get £120 credit added to your Tyl account – no brainer. Plus other benefits too, from next-business-day settlement to a range of card machines and virtual payment options, plus simple and fair pricing.

2.    Consumer demand to spread the cost of purchasing bikes over a longer period is currently bigger than ever. ACT’s retail finance scheme – in partnership with V12 Retail Finance - delivers the highest conversion/sales rate of any similar scheme and is worth over £100m p.a. to the cycle industry. The ACT work with V12 Retail Finance to provide all-important market knowledge and to ensure their finance products – including integration - are just the right fit for the cycle trade.

3.    Access and discounts to Cytech, the most recognised and lauded technician training and accreditation scheme internationally assures the future for workshops and technicians. Cytech now delivers training via SEVEN locations across the UK, including a new centre in Scotland that opened in October as well as FIVE locations in Australia and a presence in South Africa and Canada with more to follow in 2023. Your ACT membership will give you the opportunity to get all your specialist retail staff into the Cytech programme at a significant discount.

4.    ACT is also a founding member of the Independent Retailers’ Confederation, making the case to Government and others on the importance and value of independent retail, particularly crucial in this economically volatile times. As an ACT member, you are automatically a member of the IRC community of more than 100,000 specialist retailers across the UK.
 
But there are 15 other essential business benefits to your membership including discounts on business insurance; Retail Finance Training; Tax investigation protection, and unlimited jobs advertising.

What are you waiting for? To join the ACT, click here: www.cycleassociation.uk/join-the-act/

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