Your guide to a fast, affordable and convenient commute

The cycling industry is undergoing a significant shift in the UK, with bike ownership facing a massive decline while bike sharing schemes (like Lime, Forest, Santander Cycles, Beryl etc) soar in popularity.

According to the Bicycle Association, 2023 marked the worst year for bicycle sales in the UK in 40 years – with sales falling by an astonishing 24% in the two years since 2021.

This decline follows an industry boom brought about by the COVID-19 pandemic. However, there are a number of other factors turning people away from bike ownership, including growing theft concerns, the increasing costs of insurance and maintenance, and the hassle of needing additional storage space – both at home and in the workplace.

At the same time, bike sharing schemes are exploding in popularity, with availability now in more than 48 towns and cities across the UK.

So, what’s the big deal when it comes to bike share anyway?

Bike sharing schemes provide a cost effective solution to the pain points of bike ownership – so you no longer need to worry about costly maintenance and insurance policies, bike theft, or the need for additional storage space.

Instead, these schemes provide the ultimate flexibility and convenience – allowing you to opt for one-way bike journeys as well as pick up and parking in different locations.

Plus, with most bike share providers now offering e-bikes, you won’t need to worry about your level of fitness or whether you’ll arrive at your Monday morning meeting covered in sweat!

What is CycleSaver?

CycleSaver makes these bike sharing schemes even more affordable to you by offering salary sacrifice subscriptions to Lime, Forest, TfL’s Santander Cycles, Beryl and now Dott.

Through CycleSaver, you’ll save up to 47% on subscriptions offered by these popular bike share providers, through the tax benefits of salary sacrifice. That means a 25 minute Lime e-bike ride that would usually cost £2.65 could cost you as little as £1.40.

And, with the cost of living crisis showing no signs of slowing down, there’s never been a better time to make your hard-earned pounds go further each month.

But, what’s the catch?

Thanks to the UK government’s cycle to work scheme, you’re able to give up part of your salary in exchange for a cycling benefit – which in this case would be a CycleSaver subscription.

The cost of your chosen subscription is deducted from your gross salary (before tax) each month, which results in tax savings of up to 47%, depending on your salary band.

Why choose CycleSaver?

As the only salary sacrifice scheme to offer subscriptions for every major bike share provider in the UK, CycleSaver ensures that bike share is simple, affordable and accessible to as many individuals as possible.

This has made it easier than ever for you to prioritise sustainable commuting during a time where the climate crisis is top of mind for employees and employers alike.

How do I sign up?

If you’re interested in implementing Cycle Saver into your flexible employee benefits platform, visit their page on our Zest Marketplace offering.

And don’t forget, if you’re looking for help with your employee benefits technology, book a demo with our team today.