In our paper, published in the Journal of Business Venturing Insights, we chart a course for navigating the tricky waters of emerging markets, where global sharing-economy giants often stumble. Our findings are based on in-depth, qualitative interviews with the leaders of four different sharing-economy platforms in Thailand, providing a ground-level view of the real-world challenges and opportunities. This playbook offers actionable strategies for entrepreneurs, policymakers, and investors.

Map institutional currents before you launch

Emerging-economy platforms often stumble not for lack of demand, but because they underestimate the invisible rules that govern local markets. In Thailand, formal regulations, cultural norms, and semi-formal power brokers—from state-owned enterprises to influential private alliances—can either accelerate or stall your platform’s growth. Before launching, conduct a rapid institutional scoping exercise: catalogue relevant laws, pinpoint semi-formal gatekeepers whose endorsement can determine viability, and assess prevailing cultural attitudes toward peer-to-peer exchange.

Embed trust architectures into your design

In cash-oriented societies where users may be wary of digital transactions, trust is your most valuable currency. Platforms must offer transparent pricing, secure payment flows, and rigorous identity and product verification. By integrating these trust mechanisms from day one—rather than as an afterthought—platforms can lower perceived risks and broaden participation.

Partner with semi-formal gatekeepers

Unlike in many developed markets, the sharing economy in Thailand can thrive through strategic alliances with semi-formal institutions. Proactively engage these actors, such as major independent associations and state-affiliated enterprises. Their backing not only eases regulatory friction but also signals essential credibility to potential users and can confer indispensable legitimacy.

Leverage local capabilities to offset external pressures

A platform’s internal resources and capabilities can serve as a bulwark against unpredictable external forces. Cultivate strong local networks and demonstrate credibility to build trust among users. Invest in staff who understand the local work culture and build agile teams to iterate features rapidly in response to shifting market signals, helping to buffer against institutional weaknesses and market volatility.

Adapt business models to economic realities

Thailand’s insufficient income levels and significant wealth gap create fertile ground for micro-entrepreneurship. A platform can provide an essential alternative earning channel for individuals. By aligning a model with local economic needs, such as offering accessible commission structures, it is possible to rapidly scale both the supply and demand sides of the marketplace.

Institutional voids are opportunities, not obstacles

Where formal systems falter, digital platforms can step in to reduce high transaction costs and improve transparency. By leveraging digital matching and trust mechanisms, platforms can overcome the high search, negotiation, and enforcement costs created by these institutional voids. Platforms can be positioned not just as marketplaces, but as mechanisms that address market inefficiencies and foster user engagement.

Who should read the full paper—and why?

Policymakers and platform entrepreneurs alike will find actionable insights in this study. Regulators can glean recommendations for creating adaptive, risk-based frameworks that foster growth. Platform leaders will discover how to navigate a distinctive mix of formal, informal, and semi-formal forces, while investors can use the framework as a due-diligence checklist for sharing-economy ventures in similar emerging contexts.

Read the full paper here: https://www.sciencedirect.com/science/article/pii/S2352673425000435

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Author bio

Patcharapar Rojanakit is an associate research fellow at Western Sydney University.

Rui Torres de Oliveira is a professor and a director of SME Research Centre, Faculty of Business and Law, Deakin University

Uwe Dulleck is a professor of economics and an executive dean at the University of Canberra.