Xl-ent news for business

Greg Clarkson (27) and Allan Whitson (31) are the founders of Xltec, a company specialising in supplying workers to the oil and gas industry. They are jointly nominated as one of six finalists in the annual awards run by the Prince's Scottish Youth Business Trust.

Greg, of Kirkintilloch, and Allan, of Smithstone, have been chosen from 18 winners of regional contests and go on to the awards ceremony at Glasgow's City Chambers on Tuesday, November 16 where a 2000 cash prize is also up for grabs.

Since its founding in 2008, Xltec has established a client base among oil drilling contractors all over the world. Ninety-five per cent of their business comes from overseas and they have opened an office in India and are preparing to open another in Dubai. The company started with a 5000 loan from PSYBT and already boasts a turnover of more than 500,000.

Greg said: "We started out in the construction sector but almost as soon as we started up the industry collapsed, leaving Allan and myself wondering whether to wrap it up and do something else. After some research we moved into oil and gas and it turned out to be the best thing we've ever done.

"We're very proud to have reached the finals, it's a testament to the hard work put in by our staff and Allan and I would like to thank them for their ongoing support.''