Business in Tenerife

Some businesses start from inspiration, others from necessity.  If our skills don’t fit into the employment market, the most adaptable amongst us will find other ways to utilise those skills.  Running a business anywhere in the world is always a challenge.  To do so in a country that is not your own, with systems that are unfamiliar and in a language that you might just be getting to grips with, may seem a daunting task.  Even so, Tenerife is home to many thriving companies and entrepreneurs.  The natural barriers of culture and bureaucracy are not insurmountable as long as you have a good business plan and you have researched your market niche well. 

There are certain types of business, such as running a bar, which many expats have traditionally engaged in.  As our population has grown, new opportunities have emerged and been seized upon by the more entrepreneurial of us.  Our contribution to Tenerife’s economy has become increasingly diverse as we no longer restrict ourselves to just an English speaking market, but trade across linguistic barriers.  We bring with us knowledge, experience, talent and skills and a sense of adventure: sure-fire ingredients of success if used with care.

Tenerife Lifeline is an excellent resource for anybody thinking of starting a business or who already runs one.  The book covers setting up a company in Tenerife, buying an existing business, tax, Social security, computers and networks, marketing and sales.

There are many business success stories in Tenerife.  Some have become well established companies, with decades of trading behind them.  Others are newer, but have attracted clients from all over the world.  Some focus on tourists, others on residents.  Through thick and thin, these businesses have survived and prospered.  Although the economic climate is hard, that has not stopped expats starting and running successful companies.  Armed with a wealth of experience from their previous occupations, expats have great advantages.  Tenerife is a burgeoning market, and there are always niches and opportunities waiting to be exploited.  If the idea is good and it is well executed, then there is no reason why your business should not enjoy many years of success and profits.