The Vice President of the Government of the Canary Islands and Counselor of Economy, Industry, Commerce, and Self-Employed, Manuel Domínguez, detailed this Wednesday in parliamentary commission the launch of two new actions aimed at sustaining economic activity, protecting employment, and opening new avenues for entrepreneurship in the islands.
Specifically, these are the Canary Program for Business Continuity and Transmission "Continúa Canarias" and the second chance program for self-employed "Reactívate".
The head of Economy emphasized that both initiatives "are part of the comprehensive strategy to support self-employed workers and respond to the same priority, to accompany the group in all phases of their activity, from the start and consolidation of the business to situations of difficulty, closure, or business transmission".
Domínguez also highlighted the new historical maximum of self-employed registered this Wednesday, with 148,179 self-employed workers in the archipelago, almost 9,000 more than in 2023, when these specific support tools had not yet been activated.
Reactívate Program: second chance for self-employed
The "Reactívate" program, which will be officially presented on September 17, has a budget of 1.5 million euros and is aimed at self-employed workers in the Canary Islands with more than three years of experience who are going through economic, financial, or business difficulties.
Likewise, those who have had to close their activity but continue to bear debts or problems related to their previous business will be able to access it, according to a note from the regional government.
This measure will be articulated with the collaboration of the chambers of commerce, business confederations, the Association of Self-Employed Workers (ATA), various financial entities, and bar associations, with the aim of offering comprehensive support in the business, financial, and legal fields.
Continúa Canarias: relief for viable businesses
According to data from the Canary Islands Trade Observatory, almost six out of ten entrepreneurs and self-employed workers in commerce are over 50 years old. This situation anticipates an increase in retirement processes, cessation of activity, and business transmission in the coming years.
"There are profitable companies, with a consolidated clientele, suppliers, experience, and the capacity to continue generating activity that can end up closing for not finding a person, a family, a company, or a project that assumes their continuity," commented the vice president.
To respond to this challenge, the General Directorate of Commerce and Consumption will launch "Continúa Canarias," a pilot program with an initial budget of 600,000 euros whose execution is planned for the beginning of 2027.
This initiative will connect those who wish to transfer a viable business with people interested in starting a business through the purchase of an already consolidated company. Thus, the acquisition of operating businesses will be promoted as an alternative form of entrepreneurship to starting a project from scratch.