Is the Philippines Ready for a Services Marketplace?

As the population of the Philippines continues to escalate, the needs of the people are getting harder to satisfy. Despite its growing economy and high literacy rate, it is undeniable that the country is still at its infant stage when it comes to online marketing. With only a small number of people knowing the benefits of a solid online presence for business, there is no clear description of how and when the Philippines would be able to adapt the western style of earning internet cash.

Odd as it may sound, this is one of the many reasons why a lot of companies - especially those that operate online - gamble in this part. They see so much potential in terms of the country’s evolution online.

Sites like Gawin, eSerbisyo, and Pisojobs had been one of the top players in the field of services marketplace. This segment is not exactly experiencing growth in a fast, lightning speed, but the competition just got a little tighter when another one entered the scene.

A French company that recently said hello to its international expansion, StarofService launched its operations in the Philippines. The company is in for a great business race, but is at the same time giggling about how well the country has accepted their platform.

It all started with 3 entrepreneurs who got the game up and going for two years with only € 15,000 at hand. The company got € 400,000 from seed capital last November 2014, and then another €1.1 million in a Series A round 8 months ago.

Now, the company claims to have been operating in 80 countries. They launched their platform in the Philippines 2 months ago, and the company already has over 50, 000 professionals on board.

Afzal Khan, Area Manager for the Asia Pacific region said, "Opening our office in the Philippines presents both challenges and opportunities. Knowing that the country is still not into internet business that much, we are still positive about its possible outcome. We are a company of international standards, and just after two years of launching, we are already expanding worldwide. I don’t think there’s a company in line with our field that has experienced this much growth in such a short span of time."

Before it went global, the company had developed a strong approach with its first operation in France.

Toni Paignant, COO of the company said, "In France, we’re doing better than our competitors who have big advertising budgets. We’ve always followed a very lean and agile strategy that has gotten us results. We’re seeing good results internationally too. Countries like Indonesia, Italy, India and Germany are growing pretty quickly."

The system of hiring professionals in the Philippines are mostly through phone calls and referrals. With more and more marketplaces trying to reach for the spotlight, professionals now have a new way of connecting with potential clients.

But with its current state of internet usage and online marketing, is the Philippines even ready for a services marketplace?

Therese is a business writer than can help you with your needs. For more inquires, send her an email at theadroitcabinet.mtcc@gmail.com.