Operating in Tenerife
|Tenerife Business Information|
Why is Tenerife is good for businesses
Tenerife continues to remain an excellent base for many businesses. Tenerife enjoys a 12 month year with no 'out of season' period. - There are several Tax Investment Incentives offered. Because very little credit given, there should be few problems with credit liabilities. Tenerife on the whole is a cash society, the tax man is reasonably flexible, and the accountants creative. The lifestyle here is safe and secure, and there is little crime and what there is tends to be petty. So, if you are looking to find somewhere to live and to work, you would be hard pushed to find a better environment or opportunity than Tenerife.
Tenerife is now a matured holiday destination and is 'The Place' to have a foothold, whether by simply owning property or having a business interest. The vast expansion in tourism here, produces a continuing need for good tourist related business services and other related commercials demand from the sector.
The key to a successful business in Tenerife
Do it well - Do it right - Offer a good service - and above all,
don't cut legal corners.
We only accept from sellers, and pass on to buyers business's that are legally operating and have the potential to become sound operations in the right hands - so should you.
Doing It Well.
Whether you are beginning an enterprise you have not been involved in before or continuing a profession you are experienced in, you need to do it well. Do not start something beyond your capabilities. Personal recommendations in Tenerife can make or break a business, so try not to think in terms of making a FAST BUCK, long term this never works. If you concentrate on building a good solid business, there is no reason you should not enjoy long term success and an exceptionally pleasant way of life.
Remember - Tenerife can be a transient place, and many of us don't actually believe your here to stay until you have operated for a year, after which, almost every business seems to gain ground quickly.
Doing It Right.
Whether buying a business through Eurosol or not, the first thing is Do NOT hand over moneys until you have first checked out what you are buying. Eurosol offer a totally independent business search service that will comprehensively search to see if the person you are buying from has authority to sell and if the object for sale has any oddities or debts associated with it. Very often the business carries any debts not the owner of the business. If purchasing through Eurosol we would have already made all the checks on our business's for sale, if buying through other people contact us to do a search for you, we could save you a lot of heartache or money. Here paperwork associated with business can sometimes look like confetti, always check your paperwork is correct and legal. Do not assume that because you have a solicitor working for you, everything is OK, it is often not. By following our list of do's and don'ts you can buy a business that can be run without problems which gives you the freedom to create a success.
Offer a Good Service
No matter who you are providing a service to, whether it be tourism directly, or local business/residential population, offer a good service at fair prices and word will spread among local people, who in their turn spread the word to others. If you are patient and steadfast you will succeed.
Don't Cut Legal Corners Many people when starting business in Tenerife often fall into the trap of listening to people met in bars, etc, who are all too ready to give bad advice - such as, 'you don't really need that', in order to save the costs of being fully legal. These same people are the first to denounce you to the authorities when they fall out with you for any reason. You must ensure you have all your papers correct, and employ an accountant to handle the business accounts and do your tax returns. A good accountant can be worth his weight in gold. Make sure that all financial and legal agreements are notarised and don't listen to people in the street giving free advice - they are nearly always wrong - so don't even take the chance.
There are other useful knowledge on the Business Toolbar above, and make sure you study the stuff on tenerifeowners.com