The founders of Glasgow’s first rum distillery in 300 years have been recognised as two of the most exceptional young entrepreneurs in the UK.
Zander Macgregor and Allan Nairn both enjoyed rum and wondered why it wasn’t being made in Scotland, when there was so much choice of Scottish gins and whiskies.
They launched Wester Spirit Co in 2017, initially working with a distillery in Perth to test their own craft rums made from scratch with quality natural ingredients.
In November 2018 Nairn and Macgregor launched their own distillery – Glasgow’s first rum distillery in over 300 years.
Wester’s products are now stocked in over 300 establishments and listed with 9 major wholesalers. Its spiced rum was named in the top 10 spiced rums in the world by The Independent and won best distilled product at the Scotland Food & Drink Awards 2019.
A zero waste to landfill business, Wester’s waste is turned back into energy or is used by a local farmer. Energy comes from 100% renewable sources, and this year the firm will launch 100% recyclable packaging.
Its progress has so impressed an independent panel of business experts that this week Zander Macgregor and Allan Nairn were named two of just 4 UK finalists for a “Young Entrepreneur of the Year” Award.
The Citi Microentrepreneurship Awards, funded by the Citi Foundation, are an annual celebration of Britain’s microentrepreneurs that have accessed “responsible” business finance. Glasgow-based responsible finance provider, DSL Business Finance, provided a £45,000 business loan to support Wester’s growth.
Zander Macgregor and Allan Nairn said:
“It is fantastic to hear that we are a finalist in the young microentrepreneur awards category. We are making big positive changes to our distillery and business this year and being a finalist gives us a boost in confidence that we are making the correct decisions.”
Stuart Yuill of DSL Business Finance commented:
“Encouraging young entrepreneurs is very much part of what we do at DSL and we are delighted to note Wester Spirit Co as having been shortlisted in the Young Micro-entrepreneur category. It is especially pleasing to see two friends from schooldays in business together and to note the progress being made in the first three years since incorporation.
“Our loan support has been used wisely and it is good to see the progress being made as a result of the investment made across various aspects of the business. The combination of skillsets of each of the Directors is proving to be advantageous as they embark on further product and market development. The success thus far has been as a result of drive, diligence and endeavour to create a business that will both create and maintain jobs with ongoing focus on delivering quality products to the market.”
The UK’s 5.6 million microenterprises – businesses with 9 or fewer staff – account for 96% of all businesses, and employ over 9 million people. Some would not exist at all without the financial and business support they access from the UK’s ethical “responsible finance” sector, which in 2019 lent £171 million to thousands of credit-worthy businesses and social enterprises rejected by or unable to access finance from mainstream lenders.
“Young entrepreneurs like Allan and Zander play a vital role in strengthening communities throughout the UK by creating jobs, unlocking opportunities, and addressing social and environmental challenges,” said Bob Annibale, Global Director, Citi Inclusive Finance and Community Development.
“The Citi Microentrepreneurship Awards recognise the positive impact they are having on a local and national scale, and these exceptional finalists and the responsible finance providers which supported them all contribute to the economic, social and environmental vibrancy of their communities. We are proud to support the Citi Microentrepreneurship Awards and the eighth cohort of finalists in the UK.”
Theodora Hadjimichael, Chief Executive of Responsible Finance, said:
“With impressive entrants from all over the UK, entrepreneurs and their businesses needed to be truly remarkable to make the shortlist.”
DSL itself is also in the running for an award from The Citi Foundation, recognised as a finalist in the “Resilience” category.
Wester Spirit Co and DSL Business Finance must now wait until 9 July 2020 when the winners of the Citi Microentrepreneurship Awards will be announced.
Read about the other finalists here.