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Indie jewellery retailer creates unique gold ‘Key Ring’ for new ITVX series

6 Dec 2023

Bristol and Cirencester-based bespoke fine jewellery retailer Titcombe Bespoke Jewellery, a member of the National Association of Jewellers, has received one of its most unusual commissions... Read more…

Family-owned butcher’s shop hopes 'Mary' will help Wigan families in need of food.

6 Dec 2023

Reynolds’ Butchers in Parbold, near Wigan, have set up a scheme called Mary’s Mince to help people living in the village.
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American Express Shop Small Highlights UK’s Top High Streets for Independent Shops

5 Dec 2023

Research commissioned by American Express Shop Small reveals the top 10 high streets for independent shops in the UK, shining a light on the nation’s small businesses that play... Read more…

Trade organisations call on PCCs to act on local crime as retailers report record theft

5 Dec 2023

A new campaign is calling on police & crime commissioners to tackle crime on a local level, as theft against convenience retailers reaches record highs.
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London small businesses make up to 86% of their annual revenue during the festive period.

4 Dec 2023

Recent data from VistaPrint, reported by London Loves Business, has revealed that 70% of London small businesses generate up to a substantial 86% of their annual revenue... Read more…

Concerns expressed by retail leaders following Chancellor’s Autumn Statement

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.
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Winners of Booker Prize Indie Bookshop Spotlight competition named.

22 Nov 2023

Six independent bookshops from around the UK have been named as the winners of the inaugural Booker Prize Indie Bookshop Spotlight, a competition in which independent bookshops and booksellers... Read more…

New Conservative Party chairman writes responds to NFSP DVLA petition.

21 Nov 2023

The National Federation of Subpostmasters has received a response from new Conservative party chairman Richard Holden MP regarding the petition to keep DVLA services in post offices.
... Read more…

British Business Bank launches new ‘Making business finance work.

21 Nov 2023

The British Business Bank has launched a new guide aimed at smaller businesses to help them understand how different financial products can support them at all stages of their development.
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Indie Shops to Boycott Black Friday

21 Nov 2023

Independent retailers across the UK are set to defy the Black Friday sales frenzy for the third year running, according to a survey conducted by Bira, the British Independent Retailers... Read more…

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Confront the recession head on, says the ACT.

Posted on in Business News, Cycles News

Cycle retailers around the UK facing up to the imminent challenges of recession will need to stay one step ahead of the curve to survive. Now is the time to benefit from being part of something bigger and by joining the UK’s largest retail organisation – the Association of Cycle Traders (ACT) - IBDs will not only find access to the wide portfolio of essential business services but also the day-to-day support that is often needed during these hard-hitting times.

ACT

“The retail sector is facing significant challenges, with pressure on household budgets and disposable incomes and the Bank of England predicting that the UK could be facing its longest recession since records began,” explains the ACT’s Jonathan Harrison. “And there are signs that this is already affecting the cycle retail sector. It was reported in August that UK bike sales were down a quarter on pre-pandemic levels. Total cycle market volume and value were down by 28% and 26% respectively in the first half of 2022 compared with the first half of 2021. Recovery is now likely to be slower than once anticipated.”

But, Harrison adds, with strength in numbers, the ACT, the Association of Cycle Traders, provides a face for the cycle retail sector, leveraging support from both its membership and across the industry to deliver for its more than 4275 entities, which range from mobile mechanics and garden workshops to some of the sector’s largest brands, including Madison, ZyroFisher and Giant.

“Whilst the ACT community has increased by more than 30% in last the last five years, the average cost of ACT membership has reduced by a similar figure over the past four years,” he continues. “So we think cycle retailers will really benefit from being part of something bigger.”

But what are the key benefits you get for that membership?

1.    If you take card payments face-to-face, over the phone or online – or if you’re new to card payments – the ACT new partnership with Tyl by NatWest could make it easier for your customers to pay you in a fast, secure way.  If you sign up and pay for your membership – and silver membership costs just £60 per annum - and then sign up with Tyl you’ll get £120 credit added to your Tyl account – no brainer. Plus other benefits too, from next-business-day settlement to a range of card machines and virtual payment options, plus simple and fair pricing.

2.    Consumer demand to spread the cost of purchasing bikes over a longer period is currently bigger than ever. ACT’s retail finance scheme – in partnership with V12 Retail Finance - delivers the highest conversion/sales rate of any similar scheme and is worth over £100m p.a. to the cycle industry. The ACT work with V12 Retail Finance to provide all-important market knowledge and to ensure their finance products – including integration - are just the right fit for the cycle trade.

3.    Access and discounts to Cytech, the most recognised and lauded technician training and accreditation scheme internationally assures the future for workshops and technicians. Cytech now delivers training via SEVEN locations across the UK, including a new centre in Scotland that opened in October as well as FIVE locations in Australia and a presence in South Africa and Canada with more to follow in 2023. Your ACT membership will give you the opportunity to get all your specialist retail staff into the Cytech programme at a significant discount.

4.    ACT is also a founding member of the Independent Retailers’ Confederation, making the case to Government and others on the importance and value of independent retail, particularly crucial in this economically volatile times. As an ACT member, you are automatically a member of the IRC community of more than 100,000 specialist retailers across the UK.
 
But there are 15 other essential business benefits to your membership including discounts on business insurance; Retail Finance Training; Tax investigation protection, and unlimited jobs advertising.

What are you waiting for? To join the ACT, click here: www.cycleassociation.uk/join-the-act/

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