Last week BikeBiz reported that Cyclescheme had made the shortlist of the one hundred fastest growing UK companies.
But, with a growth rate of nearly 350 per cent a year, it can now be revealed that Cyclescheme tops the annual compilation of 'must-watch' companies, a huge accolade for the business which provides a Cycle to Work scheme service to UK independent bike shops.
Cyclescheme was set-up by the ex-owners of Avon Valley Cyclery of Bath: Richard Grigsby and Gary Cooper. In 2005 they created their business after witnessing the lacklustre performance of the first Cycle to Work third-party facilitator, Booost.
In the first year of trading, turnover was £253,000. It's now nearly £25m a year. In one day in June, Cyclescheme sent out 800+ bike vouchers, more than the number of vouchers it sent out in the whole of its first year.
The business now has 25 staff in a three-storey building in Bath.
Cyclescheme has sent customers to bike shops from the likes of Rolls-Royce, BBC, Coca-Cola and more than a third of Britain's police forces and councils.
All of the Fast Track 100 companies get to send executives to a party early next year at the home of Virgin's Sir Richard Branson.
Virgin has sponsored the league table for 13 years. The list is published as a supplement in the Sunday Times.
Branson said: "The last year has been one of the toughest I remember in business; but the fear of the early part of 2009 has been replaced by optimism we will find a way through. This sense of optimism is reflected in the sterling performance of the Fast Track 100 companies who are expecting impressive continued growth this year."
Article courtisey of BikeBiz:
See our Fast Track 100 page:
Having happy employees boosts productivity, increases employee resilience and reduces staff turnover. Use our happiness tracker to understand why cycling has these positive outputs on business performance.
This video will show you how to use our email tool. You can use the tool to raise awareness of your benefits and to easily disseminate your employer code to colleagues.
The past year has been been tough for business and employees with political and economic turmoil caused by events like Brexit, Trump’s victory and the recent election result.