How to Find Insurance for Your Cannabis Company If It’s Proving Difficult
Due to the current legal circumstances surrounding cannabis, it won’t be especially surprising if you have trouble finding insurance for your company. Here’s some information about this difficulty, including what you can do to get around it. Cannabis Insurance Problems The Department of Justice in the U.S. currently has a hostile approach towards […]
How to Make Quarterly Projections for Your Cannabis Business
If you’ve ever done a personal budget, you know how hard it is to predict what you’ll spend for the month when you begin. Sometimes you find yourself having to adjust your projections when you overestimate in one area or underestimate in another. It’s almost guaranteed that as you move through the process, you’ll need […]
5 Industries That Make CFOs a Good Fit for Your Cannabis Dispensary or Grow Op
Hiring CFOs for your cannabusiness isn’t always easy. One of the single biggest challenges in the cannabis industry is hiring good people with comparable experience. Because the cannabis industry is so new, there are many times more jobs available than those with cannabis industry experience. This is especially true of c-suite level team members who […]
Funding Your Cannabis Business When the Bank Turns Down Your Loan Application
Startups are a time-honored American tradition. Everyone is welcome to start their own business, with an infrastructure of a loan application and investments to help new ventures get started. Working the system, a new business can usually get enough funds to test the business result and see if it flies. But the cannabis industry is […]
Are We At The Doorstep of Federal Marijuana Legalization?
It is now almost one month since a major step was taken in the federal legalization of marijuana. The House Judiciary Committee approved a bill that would remove cannabis from Schedule 1 of the Controlled Substances Act, effectively legalizing it at the federal level. While this bill still has a way to go before it’s […]
How to Avoid 280E
Wondering how to avoid 280E? You’ve come to the right place! The cannabis industry is a rapidly growing market. We have helped many cannabis businesses reach financial success and grow exponentially. Even though there are exciting success stories, the cannabis industry and cannabis business owners are still facing massive challenges specifically related to their niche […]
California Cannabis Retailer Requirements
Opening any business has many steps and procedures to ensure that your business is legal and in good standing. Becoming a California cannabis retailer is no different in that regard, except that there are extra stringencies you must be aware of to be a compliant cannabis business in the State of California. The department you […]
Standard Operating Procedures to Implement in Your Cannabis Business
Before starting a business, many founders draft a detailed and comprehensive business plan. A business plan is helpful when raising capital, and for giving the business its best possible start. An operations plan is equally as important. Part of the operations plan involves drafting step-by-step instructions about how to perform and execute business tasks. This […]
7 Financial Signs It’s Time to Sell Your Cannabis Business
Running a cannabis business can be incredibly lucrative. What many first-time founders don’t realize is that few businesses stay with the original owner. Many business owners professionally nurture a shop until the business is ready to sell to bigger fish. Others sell when their small business hits a financial rough patch. If you have been […]
How to Restructure Your Cannabis Business as More States Legalize
The cannabis business is currently caught in an interesting dance of legality and opportunity. On one hand, it is still considered illegal according to federal law. However, on the other hand, a constantly growing number of states are legalizing it locally. Those states that legalized early have already seen a thriving new cannabis industry rise […]
8 Things You Need to Know About Doing Taxes for Your Cannabis Business
It’s common among the cannabis industry to hear stories of business owners getting hit with a crushing tax bill or an IRS audit. The industry has expanded quickly with legalization in individual states and the questions of tax implications arise among industry stakeholders – more so business owners. However, with an in-depth knowledge of key […]
Cannabis Start-up Advice: Hiring the Smart Way
Smart hiring is not only a good business practice, it’s a necessity. And for a start-up cannabis business, in particular, hiring the right way is critical. With obstacles such as raising capital, staying current with state laws, countless regulations to abide by, and complicated tax compliance, a cannabis business has a lot to focus on. […]
Tips for Managing Cash Flows of Your Cannabis Company
Cannabis businesses face cash flow issues for a few reasons. The first big reason is taxes. Being subject to the tax laws under Internal Revenue Code 280E means there are less eligible expenses to deduct. This means income taxes are one of the biggest costs for cannabis companies. Secondly, the cannabis industry faces strict regulations […]