A business social network has launched in Cyprus: a free LinkedIn alternative for local companies

Three Cypriot entrepreneurs have announced the creation of the island's first dedicated business social network for local businesses, based on the model of the American platform LinkedIn. The project has been launched on the cyprusprocurement.com domain, where a closed electronic contracting system for the private sector previously operated. The developers have added an interactive news feed and networking tools, making the service completely free at this stage. The startup's main goal is to create a single space for exchanging ideas and help Cypriot companies enter the international market.

An attempt to present the integration of a social feed into an old website as the creation of the island's “first LinkedIn alternative” looks like a strong marketing exaggeration. Cypriot business, especially in the international sector, has long been deeply integrated into global LinkedIn, which is owned by Microsoft and has more than 1.3 billion users. It will be extremely difficult for a local platform to compete for professionals' attention, since creating a viable social network requires a huge active audience and a constant stream of unique content, something that an ordinary directory of suppliers and contractors cannot provide.

The founders' statement about completely free access should also not be misleading, as it is a temporary tool for attracting a database. Maintaining and developing such an IT infrastructure requires continuous financial investment. As the example of LinkedIn itself shows, quality tools for recruiting, counterparty verification and promotion are inevitably monetized through paid Premium subscriptions. In the future, the Cypriot project will either have to introduce hidden charges or remain a modest niche forum with no real prospects for large-scale growth.