You must establish a Honduran legal entity to go into business in Honduras. There are several types of businesses used in the country, but the most common are Comerciante Individual (Individual Merchant) and Sociedad Anonima (Limited Liability Corporation).
Foreigners are allowed to form companies, but if you want to work or name yourself General Manager, you must have residency to do so legally. If you don't currently have residency, then you can name a manager that is a resident or citizen.
It is possible to use the same corporation you used to buy property to go into business, but most lawyers recommend setting up a separate one for the business to avoid risks to either. Tax incentives and The new Bay Island's Free Tourist Zone law will provide an array of incentives to tourism related businesses such as hotels, restaurants, vehicle rentals, and souvenir stores.
Read more in the Roatan Relocation Guide