Setting Up Your Own Business
Many expats turn to self employment as a means of survival and if you provide a good service or have a good product and work hard there is no reason why you can’t be successful.
Deciding what sort of business you want to start can be the tricky part, consider what skills you have and whether you think the people of Tenerife could benefit from your knowledge, skills, service or product.
Getting established and earning a good reputation can be difficult to achieve for newcomers. Once you have earned the trust of your customers though, they will recommend you to their family, friends and acquaintances and there is no better advertising than ‘word of mouth’.
Decide who your target market is going to be, residents, tourists or both. Choose a location for your business that fits with your target market and advertise in suitable media that will reach your potential customers. An internet presence is vital to most businesses today, but there is little point in having a web site that can’t be found.
If you are looking for a reputable supplier for your business or need to find good tradesmen, recommendation from a reliable source is paramount. It can be frustrating when you are trying to provide a good service, but you are not getting a good service from your supplier, it reflects badly on you, and while some of your customers may accept it, others won’t and will go elsewhere.
Do your research, find out who your competition is and what kind of reputation they have, can you do it better / cheaper.
Do you have the resources and finances to promote your business effectively? Internet forums are a useful source of information so don’t be afraid to use them.