They can make offers for a claim without formally admitting liability, it is known as doing it on a “without prejudice” basis, normally when they feel that they will not be succesful at Court when it comes to liability or when they have problems with the other party admitting fault or problems in trying to contact them to get instruction from them.
Just make it clear to you solicitor what your losses are, make it clear that your loss of earnings and the subsequent fold of your business is a direct result of the accident and make sure that this is stated within the medical evidence when you see the medical expert.
What you must do is make sure that you document everything as well as possible, photographs of the damaged bike and gear, original receipts if you have them, if not then a pro-forma invoice from a bike shop for the cost of their replacement.
Make sure you get your accountant to provide the 3 years accounts and tax returns in the run up to the accident and your accounts since. That they calculate your loss to date and that once they have the medical evidence backing it, that they make a request for an interim payments for your bike, gear and loss of earnings to date.
The more you can document your losses the easier it is for your solicitor to claim them back in full for you.
With regards to liability, try and provide them with a good diagram, photos of the accident location etc, makes it a lot easier to argue liability.