Boris Johnson announces grants for Electric Bikes, but are they a good idea for small business owners?
Bikes (including E-bikes) costing over £1000 will now be included in the Governments ‘Cycle to Work’ scheme. If any of your team members are keen to cycle to work, this is a great opportunity for your business to get involved.
GCI founder Rob Howes said in the Forbes article ‘E-Bikes And Other £1,000+ Bicycles Added To U.K. Government’s Money Saving ‘Cycle To Work’ Scheme’ :
We think the electric bike has an enormous part to play and making it possible to get one using the popular Cycle to Work scheme is a step in the right direction by the Government. We have multiple clients who have given up their cars and swapped to e-bikes, and we have helped lots of people who now have a cargo bike instead of a second bike
Many cyclists will say that the electric bike is not for the ‘true cyclist’. However for the people who can’t keep up, need a little push up the hills or just don’t want to be sweaty when they arrive at work the electric bike is perfect and keeps cycling inclusive for all abilities.
There is also a myth that electric bikes are heavy, ugly things with wires hanging off the frame linking to a large battery that you have to get your legs around. This is not the case. Paul visited our local bike shop Aerocycles and he was amazed at how good the electric bikes looked. They are definitely worth checking out.
WHAT IS THE CYCLE TO WORK SCHEME?
The Governments Green Transport plan aims to reduce pollution, promote healthier lifestyles and makes cycling to work cost effective. All companies in the UK qualify for the scheme (providing they are UK tax payers). Earnings must remain above the level of national minimum wage after the salary sacrifice has been deducted. Unfortunately sole traders do not qualify for the scheme. The scheme gives employees a tax exemption. The savings are typically about 25-39%. You can implement this as a ‘salary sacrifice’ or as a ‘company perk’.
The added health and environmental benefits of cycling to work are huge. We would definitely recommend this scheme to get you and your work force cycling.
For more detailed information please look at Cyclescheme.co.uk https://www.cyclescheme.co.uk/get-a-bike/how-it-works
If you have a bike already don’t forget the £50 voucher to get your bike back on the road. https://www.bbc.co.uk/news/business-53558629