A Guide to Starting or Setting up a Business in Tenerife
Tenerife Business, Businesses, Bars, Restaurants
for sale in Tenerife.
Buyers guide, tips for setting up a business in Tenerife.
So you want to start a business in Tenerife? I don't blame
you! There are many profitable businesses in Tenerife from
Bars, Restaurants, Printing Companies, Estate Agents and
many many more. Most people come to Tenerife to start a
business with little or no experience in what they are hoping
to do. A coach driver and his wife was a nurse came out
to start a bar and now run one of the busiest bars in Las
Americas - so it just goes to prove that you don't necessarily
need to have experience to run a successful business. Hard
work, detemination, endless rows with your spouse and good
legal advice to start with are a few of the main ingredients
you'll need
Other useful points that can work in your favour are:
Tenerife has grown rapidly over the past 20 years into
a first class international destination catering for all
nationalities and has created in its path a wealth of business
opportunities. The excellent climate and relaxed and safe
pace of life here ensures that running any kind of business
can be both rewarding and satisfying - if you get it right
from the start.
Seven Deadly Sins - and how to avoid them.
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Read on - There will be failures,
but read on to ensure you aren't one of them.
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Don't be naive - Do Not commit to
anything before thoroughly researching your venture.
-
Budget and Planning -make a business
plan you'd have to do one in the UK so why not here -
try to work out your total costs to run your business
and then find what your sales 'break-even' point is to
survive - is it reachable - is it surpassable?
-
Legal - It is not worth skimping
or trying to save a few pounds by not getting everything
you need legally including opening licenses etc - its
not worth it, you'll pay heavily in the end if you don't.
-
Professionals - Use a qualified Gestor/Accountant
and let them guide you through the ins and outs of buiness
law in Tenerife.
-
Don't Run Out - Ensure that you have
enough working capital to both run the business and survive
personally until the business is self supporting- if you
haven't don't chance it on increasing sales.
-
Service with a Smile - it
will take time to build up a reputation but remember the
public are your bread and butter and service with a smile
will ensure repeat business through word of mouth.
