Social networking giant Facebook is dipping its toes into the already crowded market for local services. Facebook, with its recently launched service, will go head-to-head against Yelp, Angie's List, Google, Amazon, and LinkedIn.

Facebook recently launched a new website that allows users to connect with "local businesses and organization with the best Facebook reviews and ratings." The new website includes a portal that presents a wide array of local businesses and commercial establishments. Among the services listed on the portal are for accountants, auto dealers and even psychics.

Like Us on Facebook

Just like other local services websites, Facebook's new website comes with a star-based rating system. Facebook users can provide reviews as well as give appropriate star rating for each establishment. The listings will include information such the business' hours of operation, address and phone numbers.

"We're in the early stages of testing a way for people to easily find more pages for the services they're interested in," a Facebook spokesperson said in a statement.

Many tech analysts are convinced that Facebook's latest website is part of the company's plan to extend its services to small and local businesses. It is important to note that the social networking giant has been persuading small businesses to constantly update their respective Facebook pages.

A similar service, Angie's List, estimated that the United States market for local services is worth around $800 billion. The main challenge for services that hinder them from dominating the market is localization. Each offerings should be tailored to fit each specific area or region and liability is also a huge concern.

On the other hand, other services have opted to choose a more narrow focus. LinkedIn launched ProFinder earlier this year. ProFinder connects users to career coaches, freelance designers and other professional services. Unfortunately, the service is only exclusive in California.

TagsFacebook local services, Facebook updates, Facebook new services, local services, Facebook local services website, facebook update, Facebook new updates, Facebook Latest News, Facebook Yelp, yelp, Yelp services, Yelp local services