Cycle to Work scheme provider Gogeta reports significant increase in employer sign-ups
Posted on in Business News , Cycles News
Cycle to Work scheme provider Gogeta has reported a significant increase in the number of employers signing up to its scheme.
The provider, which is endorsed by the ACT, has announced an 800% increase in the amount of companies enrolling into the scheme, while also reporting a 1000% year-on-year growth in the value of Cycle to Work vouchers.
In addition to this notable rise, retailer recommendations accounted for over 80% of new employers joining Gogeta’s scheme, which aims to be fairer to independent retailers by charging a lower commission rate for sign-ups than traditional schemes.
Jonathan Harrison, Director of the ACT, said: "One of ACT's key priorities is improving the cycle to work scheme for retailers. We've been advocating for better terms, including the removal of the mandatory acceptance of vouchers on all bicycles, even discounted ones, and prohibiting retailers from passing surcharges onto customers to cover high commission fees.
“The ACT has consistently argued that these restrictions unfairly disadvantage retailers, often leading to financial losses on transactions. While we're pleased with the progress we've made, we recognise that more improvements are required. Gogeta proves that it's possible to create a cycle to work scheme that is both fair to retailers and provides the best value for customers."
Gogeta, which was founded by former bike retailer Barry Scott in order to address the high commission fees charged by traditional cycle-to-work scheme providers, charges retailers 3% commission which the company states will allow cycle traders to not have to pass on extra costs to customers that sign up to Gogeta’s scheme.
Barry Scott said: “Our aim has always been to create a cycle to work scheme that retailers were happy to use. I know as an ex-retailer I used to wince when a customer said they wanted to use a voucher from one of the legacy providers, because I knew I was going to get hammered with a massive commission.
“This level of growth is phenomenal but the stat I am most proud of is the number of employers that are signing up because retailers are recommending us. To me that is proof that we’re not only on the right track but that retailers are on that journey with us.
“We promise to keep commissions to an absolute minimum and in return our retailers give customers the best deals. It’s quid pro quo. And it works.”
For more information visit the ACT page here.
