Bikeworks is a social enterprise is a company limited by guarantee rather than shares. It operates with social interest in mind and is a not-for-profit company, meaning any profit made by the business is put back into the programmes rather than into shareholders pockets.
Bikeworks exists to enable people of all abilities to enjoy and reap the benefits of cycling through our All Ability cycling clubs, mechanics training and cycle training for young people and adults.
As a social enterprise, a company can fund itself by selling goods and services and is therefore not wholly reliant on donations and grant income. Bikeworks is a social enterprise rather than a charity, partly for this reason. We believe that this business structure allows us to have a significant impact on our community, while allowing us to be dynamic and try out new programmes which might have even more impact.
Bikeworks does apply for grants, particularly for our All Ability cycling programme and our employment and training programme. These are our two most impactful programmes and as such are most suitable for more traditional funding models. In the past we have been more reliant on external funding, with about 20% of our income coming from funding sources and 80% of income being generated by our own business activities.
We also accept donations, both financial and temporal, from people who wish to support our work and we use them in the same way a charity would. The main difference is that we are not eligible for gift aid.
