Cyclescheme shortlisted for Fast Track 100 award - BikeBiz

Cyclescheme shortlisted for Fast Track 100 award

The Cycle to Work scheme company has been picked by the Sunday Times as one of Britain's fastest growing enterprises
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Cyclescheme is the first company from the bike trade to be short-listed for the Fast Track 100 award. Full results will be announced in the Sunday Times on Sunday.

BikeBiz was with the Cyclescheme directors yesterday: they were eager for Sunday to come as quickly as possible.

Founded in 1997, the Fast Track 100 ranks small to medium sized private enterprises with a record of the fastest growth over a three-year period.

In the past, sales growth of featured companies has ranged from 53 percent to 225 percent per annum. A typical Fast Track 100 nominee would show an annual turnover of between £10m and £50m.

As will be revealed in a feature in the January BikeBiz, Cyclescheme has an annual growth rate in excess of 300 percent and now has an annual turnover of £25m.

Cyclescheme work exclusively with 1400+ UK IBDs to hhandle complete transactions on behalf of employers who buy bicycles and safety accessories for their staff who wish to take part in Cycle to Work schemes.

Cyclescheme director Richard Grigsby said, “This award reflects the hard work and subsequent success we have achieved by winning business for independent retailers. Every contract award we gain means that national chains are eliminated from participation.

"We are naturally very proud to be selected for Fast Track 100 and could not have done this without the support and efforts of our partner stores."

Incorporated in February 2005 Cyclescheme is entirely self-funded. Directors Grigsby and Cooper have their roots in the cycle trade, having run an independent bike shop for over 15 years. They founded Cyclescheme following a gap in the market when a previous provider, Booost, pulled out of the independent sector. Cyclescheme employs 25 staff in Bath.

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