Ron Strider
Well-Known Member
California's Berkeley Patients Group will be selling recreational cannabis starting at 6 A.M. on January 1st. They'll be kicking off what is sure to be a pivotal year in Cannabis — one way or the other.
The industry has been expanding rapidly in sales and geography. North America spending on legal cannabis topped $7.3 billion in 2016 and grew 33% to end 2017 with $9.7 billion in sales according to industry watcher BDS analytics. 2018 promises a big revenue jump with California (Jan.), Maine (Feb.) and Massachusetts (July) all scheduled to open up recreational use markets. A long list of states might put forth November ballot initiatives to legalize adult-use cannabis, including Arizona, Arkansas, Connecticut, Delaware, Florida, Illinois, Maryland, Michigan, Minnesota, Montana, New Hampshire, New York, Ohio, Rhode Island and Vermont, according to the Cannabis Business Alliance.
On of the reasons they are succeeding is that cannabis companies are becoming more professional and transparent according to Gateway Accelerator co-founder Ben Larson. His company has helped launch 19 marijuana-related start-ups. The industry is also adopting more mainstream business practices like charitable giving. Denver's cannabis dispensary chain Lightshade, recently opened its eighth location and will be donating some of its profits to neighboring Amazing Grace Community Church to support its food pantry and bi-monthly meal service.
Entrepreneurs are also finding creative solutions to limitations and regulations. Marketing restrictions are tight on the cannabis industry, but the Merry Jane media company has found a way to slyly refer to cannabis and its effects by teaming up with fast food giant Jack-in-the-Box to offer a MERRY Munchie MealTM for a limited time in January in a few Long Beach, California stores.
Medical cannabis is also thriving and products developed as a result of medical research performed abroad are coming to the US through partnerships. Tikun Olam, (Hebrew for Repair the World) in Israel has ongoing clinical trials in that country's regulated medical cannabis market, treating over 10,000 patients for a variety of symptoms of medical conditions such as Cancer, PTSD, AIDS, epilepsy, Crohn's Disease/Colitis, multiple sclerosis, cerebral palsy, chronic pain and neuropathy. They are partnering with US companies in different states and recently joined with Washington DC cultivator Alternative Solutions to distribute their products.
Communication around medical marijuana research and potential medical uses is also growing. Skipta, a social network of specialized online medical communities for verified healthcare professionals including Oncology Nation, Psychiatrist Connect and Doctor Unite recently partnered with new media company The Fresh Toast to provide information on cannabinoid medicine.
But, "The reality of growing commercial marijuana is hugely different from the romantic version most growers initially thought it would be," said Greg James of Marijuana Venture magazine, which is distributed through Barnes and Noble and other national outlets. "There are a lot of folks who want out." He's seen this first hand as some customers default on their advertising payments.
The lack of banking and capital resources, the inability to deduct business expenses from the annual tax bill, and changing regulations that add unexpected costs also hamper the industry's growth. Many will enter the industry, and some will be washed out says James.
Of course the biggest risk of running a cannabis business is that it is federally illegal. While Donald Trump said he approved of medical marijuana when he was on the campaign trail, his attorney general Jeff Sessions' hard-line anti-marijuana stance threatens the industry. Sessions has called marijuana only "slightly less awful" than heroin.
Will the legal cannabis industry be allowed to thrive? Will states continue to take in hundreds of millions of dollars of annual cannabis tax revenues? Or will the Trump administration bring the whole industry to a screeching halt and put entrepreneurs in prison?
Stay Tuned.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Will Legal Cannabis Thrive Or Get Shutdown? 2018 Will Tell
Author: Julie Weed
Contact: Contact Information
Photo Credit: Greg James
Website: {{meta.title}}
The industry has been expanding rapidly in sales and geography. North America spending on legal cannabis topped $7.3 billion in 2016 and grew 33% to end 2017 with $9.7 billion in sales according to industry watcher BDS analytics. 2018 promises a big revenue jump with California (Jan.), Maine (Feb.) and Massachusetts (July) all scheduled to open up recreational use markets. A long list of states might put forth November ballot initiatives to legalize adult-use cannabis, including Arizona, Arkansas, Connecticut, Delaware, Florida, Illinois, Maryland, Michigan, Minnesota, Montana, New Hampshire, New York, Ohio, Rhode Island and Vermont, according to the Cannabis Business Alliance.
On of the reasons they are succeeding is that cannabis companies are becoming more professional and transparent according to Gateway Accelerator co-founder Ben Larson. His company has helped launch 19 marijuana-related start-ups. The industry is also adopting more mainstream business practices like charitable giving. Denver's cannabis dispensary chain Lightshade, recently opened its eighth location and will be donating some of its profits to neighboring Amazing Grace Community Church to support its food pantry and bi-monthly meal service.
Entrepreneurs are also finding creative solutions to limitations and regulations. Marketing restrictions are tight on the cannabis industry, but the Merry Jane media company has found a way to slyly refer to cannabis and its effects by teaming up with fast food giant Jack-in-the-Box to offer a MERRY Munchie MealTM for a limited time in January in a few Long Beach, California stores.
Medical cannabis is also thriving and products developed as a result of medical research performed abroad are coming to the US through partnerships. Tikun Olam, (Hebrew for Repair the World) in Israel has ongoing clinical trials in that country's regulated medical cannabis market, treating over 10,000 patients for a variety of symptoms of medical conditions such as Cancer, PTSD, AIDS, epilepsy, Crohn's Disease/Colitis, multiple sclerosis, cerebral palsy, chronic pain and neuropathy. They are partnering with US companies in different states and recently joined with Washington DC cultivator Alternative Solutions to distribute their products.
Communication around medical marijuana research and potential medical uses is also growing. Skipta, a social network of specialized online medical communities for verified healthcare professionals including Oncology Nation, Psychiatrist Connect and Doctor Unite recently partnered with new media company The Fresh Toast to provide information on cannabinoid medicine.
But, "The reality of growing commercial marijuana is hugely different from the romantic version most growers initially thought it would be," said Greg James of Marijuana Venture magazine, which is distributed through Barnes and Noble and other national outlets. "There are a lot of folks who want out." He's seen this first hand as some customers default on their advertising payments.
The lack of banking and capital resources, the inability to deduct business expenses from the annual tax bill, and changing regulations that add unexpected costs also hamper the industry's growth. Many will enter the industry, and some will be washed out says James.
Of course the biggest risk of running a cannabis business is that it is federally illegal. While Donald Trump said he approved of medical marijuana when he was on the campaign trail, his attorney general Jeff Sessions' hard-line anti-marijuana stance threatens the industry. Sessions has called marijuana only "slightly less awful" than heroin.
Will the legal cannabis industry be allowed to thrive? Will states continue to take in hundreds of millions of dollars of annual cannabis tax revenues? Or will the Trump administration bring the whole industry to a screeching halt and put entrepreneurs in prison?
Stay Tuned.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Will Legal Cannabis Thrive Or Get Shutdown? 2018 Will Tell
Author: Julie Weed
Contact: Contact Information
Photo Credit: Greg James
Website: {{meta.title}}
