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1 Nov 2024

Independent retailers across Britain have reacted with dismay to yesterday's Budget, with many warning of store closures, job losses and cancelled expansion plans.

30 Oct 2024

The British Independent Retailers Association (Bira) and the ACT have condemned today's Budget as the most damaging for independent retailers in recent memory, with...

30 Oct 2024

Retailers and hospitality businesses are paying three times their economic share in business rates, according to analysis by the British Retail Consortium (BRC) and UK Hospitality.

30 Oct 2024

eBay is tightening regulations on e-bike and e-bike battery sales in the UK from 31 October, in a change aimed at prioritising consumer safety.

30 Oct 2024

ACT parent company Bira is working with UK Finance and other organisations who form the UK’s wholesale cash industry to gain vital information to ensure businesses get the best possible...

29 Oct 2024

Eighteen organisations, including Cycling UK, Greenpeace, The Centre for Mental Health, and The Association of Directors of Public Health, have urged the Chancellor to allocate 10% of the...

25 Oct 2024

ACT members were in attendance at the hugely successful Bira Conference in London last week, featuring an inspiring line-up of speakers providing valuable insights from independent retail...

24 Oct 2024

Peloton Interactive has strategically launched a rental programme, broadening its market appeal. Traditionally, Peloton’s offerings have been positioned as premium, high-investment...

22 Oct 2024

UK cycling manufacturer Whyte Bikes has announced the closure of its three cycling experience hubs following a major shift in the company’s strategy, which includes supporting independent...

15 Oct 2024

The ACT is launching a campaign to ensure fair and accurate reporting of e-bike-related news while promoting the positive aspects of e-bike usage.

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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.

Recyk yBike Fundraiser

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.

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