The Vice President of the Government of the Canary Islands and Minister of Economy, Industry, Trade and Self-Employed, Manuel Domínguez, announced this Wednesday, in a parliamentary commission, the launch during the last year of the legislature of two new initiatives aimed at preserving economic activity, maintaining employment and offering new entrepreneurial opportunities. These are the Canary Program for Business Continuity and Transmission ‘Continúa Canarias’ and the second chance program for the self-employed ‘Reactívate’.
The Minister of Economy explained that both measures “are part of the comprehensive strategy to support self-employed workers and respond to the same priority: to accompany the collective 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 record of self-employed workers known today with 148,179 self-employed workers in the islands, almost 9,000 more than in 2023, when these measures had not yet been implemented.
The ‘Reactívate’ program, which will be presented on September 17, is endowed with 1.5 million euros and is aimed at self-employed workers in the Canary Islands with more than three years of activity who are experiencing economic, financial or business difficulties. Those who have ceased their activity but continue to carry debts or difficulties derived from their business may also be eligible.
The program will have the support of the Chambers of Commerce, business confederations, the Association of Self-Employed Workers (ATA), financial entities and bar associations, in order to offer a comprehensive response in the business, financial and legal fields.
According to data from the Canary Islands Trade Observatory, almost six out of ten business owners and self-employed workers in trade are 50 years or older. This reality anticipates an increase in retirement, cessation of activity and business transmission processes in the coming years. “There are profitable companies, with consolidated clientele, suppliers, experience and capacity to continue generating activity that may end up closing due to not finding a person, a family, a company or a project that assumes their continuity”.
To face this situation, the Directorate General of Commerce and Consumption will promote ‘Continúa Canarias’, a pilot program that will have an initial budget of 600,000 euros and whose execution is planned for early 2027. The program will connect those who wish to transfer a viable business with people who seek to start a business by acquiring an already consolidated company. In this way, the acquisition of operating businesses will be promoted as a form of entrepreneurship that does not have to start from scratch.
These new measures are added to the actions already developed by the Government of the Canary Islands to support self-employed workers, included in the Support Plan for the Self-Employed.
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