Branson rewards cycle business

A cycling business in Bath is flying up the fast lane afterreceiving an award from Sir Richard Branson in recognition of itsrapid growth.

Directors from Brock Street firm Cyclescheme picked up thefastestgrowing company award at the 13th annual Sunday Times VirginFast Track 100 event.

The celebration of the country's entrepreneurial flair was hostedby Sir Richard at his Oxfordshire home.

Over the past three years, sales at the company have grown nearly350 per cent a year, to Pounds 23m.

Cyclescheme provides bikes for Government-backed cycle-to-workschemes, linking employers with a network of partner bike shops.

Directors Richard Grigsby and Gary Cooper received the award fromMr Branson. Mr Grigsby said: "Receiving our award as the number onegrowing private UK business from Richard Branson at the Fast Track100 was an absolute privilege.

"The whole event was particularly refreshing and a total lack ofmanagement speak, acronyms and corporate bull was a real pleasure towitness. It seems that small to medium-sized businesses don't learnthat stuff until they get bigger."

Mr Cooper was similarly thrilled at landing the award. "Winningthe Fast Track 100 was a very proud moment in our lives and businesscareers," he explained.

"This was a great accolade and acknowledgement for all the hardwork the Cyclescheme team and our partner shops have put in over thelast five years."

Explaining the key to a successful enterprise, Sir Richard toldbusiness people at the event: "If the owner of a business ispassionate, it will ricochet all the way down the organisation."

An after-dinner charity auction at the event benefitingunderprivileged students at the Branson School of Entrepreneurshipin South Africa raised Pounds 210,000.