Tenerife business
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:
Most of the Tenerife Businesses - Bars - restaurants etc enjoy a good 12 months trading per year.
There are good Tax and other incentive benefits for business growth.
There is flexibity and choice of Module Tax for Bars & Restaurants
Accountancy charges are reasonable compared to the UK
The lifestyle - (isn't that what you came here for?) - is safe and secure for business people
Good effective policing ensures the crime rate stays low in Tenerife
Predominantly a cash driven society therefore there is little credit expected or given and therefore fewer credit liabilities
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.
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.