Canary Islands Retail Revitalization Initiative

Overview

The Canary Islands government has announced a new regulatory framework aimed at boosting small-scale retail activity in rural areas through targeted grants. These subsidies focus on revitalizing traditional commercial zones—outdoor markets, neighborhood shops, and touristic/rural shopping districts—within municipalities of less than 15,000 inhabitants.

"The initiative seeks to promote economic growth, sustainable development, and improved quality of life by supporting joint management, marketing, and promotional efforts."

Key Objectives

• Promote economic growth
• Support sustainable development
• Improve quality of life in rural communities
• Preserve traditional commerce

Eligible Entities

• Associations
• Federations
• Public-private partnerships managing commercial zones

Most member businesses must be small or medium enterprises (SMEs).

Priority Projects

• Demonstrating strong management
• Strategic planning
• Clear territorial delimitation
• Enhancing competitiveness and attractiveness of rural commercial districts

Funding and Activities

• Covers activities such as:
  • Hiring managers or promoters
  • Designing common branding
  • Organizing promotional campaigns
  • Street-level events
  • Other initiatives to increase footfall and sales
• Subcontracting is permitted up to 70%, meeting legal and environmental standards.

Evaluation and Grants

• Competitive scheme
• Evaluation criteria include:
  • Management capacity
  • Project financing
  • Local economic impact
  • Environmental sustainability
• Grants can cover up to 80% of approved investments
• Maximum €15,000 per project
• Payments can be upfront or conditional with proper justification and audits

Transparency and Compliance

• Ensure transparency, regulatory compliance, and data protection

Goals

• Preserve traditional commerce in rural communities
• Prevent local decline