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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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The challenges facing the “little guy” will only get tougher.

Despite some states, notably New York, passing laws that mandate inclusion of minorities and women, business will not be easy for small cannabis entrepreneurs, and it is about to get a lot tougher.  Several developments on the horizon signal that this is about to become a game for sophisticated players:               -The legal landscape is evolving on a number of fronts: medical vs. recreational; range of products available; local NIMBY laws.  It is and will continue to be expensive to keep up with changing legal requirements.               -With the passage of HR 1996 in the House (The Safe Banking Act...

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Partnering with a celebrity is helpful, but no longer enough, as Cannabis industry shows signs of accelerating maturity.

Partnering with a celebrity is helpful, but no longer enough, as Cannabis industry shows signs of accelerating maturity.

Partnering with a celebrity is helpful, but no longer enough, as Cannabis industry shows signs of accelerating maturity.

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ANNOUNCING THE MID ATLANTIC GROWERS ASSOCIATION

ANNOUNCING THE MID ATLANTIC GROWERS ASSOCIATION

Today, we launch the Mid Atlantic Growers Association (MAGA).  And we want you to participate. This is the right time to form such an organization as legalized cannabis is finally reaching the larger northern and eastern states.  But the landscape is unfair in a number of key respects:  First, we have a history where black and brown men went to jail in disproportionate numbers. Second, now that there is a significant financial opportunity on the horizon, it is Caucasians that are receiving the licenses and positioning themselves to benefit. Third, those minorities that are able to enter the business are...

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