News — Cannabis

The Safe Banking Act- Yet another sign of a maturing industry and the requirement for businesses, large and small, to adopt excellent practices.

Banking Business Cannabis

The Safe Banking Act- Yet another sign of a maturing industry and the requirement for businesses, large and small, to adopt excellent practices.

On April 19, the house passed HR 1996- the Safe Banking Act.  (Cannabis Business Times @CBTMag, 4/20/21). This is a positive development, as commercial banks will now enter the industry. On the street, this means you will be able to use a debit card at a dispensary. A level up, it means the dispensary owner might be able to get a traditional business loan. It is also another sign of increasing industry maturity. What “industry maturity” means in practice is that it will no longer be enough to simply open a dispensary and watch the people line up with cash. ...

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Equity of Opportunity does not just mean the “entry ticket” of a dispensary. It means ongoing support in all sectors of a maturing industry.

Business Cannabis MAGA

Equity of Opportunity does not just mean the “entry ticket” of a dispensary.  It means ongoing support in all sectors of a maturing industry.

Equity of Opportunity means access to all parts of the value chain.  It means ongoing support, ongoing access to knowledge, ongoing access to financing, ongoing access to contracts as the industry evolves. Entrepreneurs need equity across the entire value chain- not just the more visible dispensary segment. Consider- according to Parker et. al. (Karen Parker, NYU Salomon Center @NYUStern, Wiley Publications, 2019), there are over 3000 cultivators, over 1500 extractors, over 4000 distributors or retailers, and over 15,000 “ancillary” businesses.  These include equipment suppliers, realtors, consultants, attorneys, accountants, janitors, security people, IT people, etc.  That’s right- two out of three...

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