President Trump voiced support for medical marijuana and states’ rights during his campaign, but Jeff Sessions, his pick for Attorney General, has opposed legalization, and will have the power to enforce the federal drug laws that could send people to prison. This political uncertainty adds a new level of risk to entrepreneurs who already operate in an evolving landscape that requires flexibility and creativity.
If it’s allowed to evolve, the legal cannabis market just in California, could top $4.5B  in sales within 3-5 years of the first recreational shops opening there, and over $7B nationwide, according to analysis by Marijuana Business Daily.
The most important protection a company can undertake of course, is to painstakingly comply with state laws and regulations. Beyond that, here, industry executives weigh in on how marijuana entrepreneurs can protect themselves and their businesses in this ambiguous climate.
Michael Bologna, CEO of Green Lion Partners, a Denver-based business strategy firm focused on early stage development in the cannabis industry advises companies to find synergies:
“Companies should focus on aligning their vision with other companies and products that are complementary and allow them to remain agile within the industry’s changing framework to increase the likelihood of mutual success. Examples of these partnerships may be software and data sharing, co-branding products, or joint ventures for vertical integration.” [Read more at Forbes]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
Japan’s cannabis market expanded sixfold over four years to ÂĄ24 billion ($154 million) in 2023, a trend that is expected to accelerate with the amendment in December of cannabis laws,…
Los Angeles-based Ispire Technologies (NASDAQ: ISPR) is a three-year-old company built on the foundation (and reputation) of a global enterprise with many years of experience as an ODM (original design…
Sacramento is one of the best cities in the nation for cannabis fans, according to a new study. Real Estate Witch and Leafly, an online cannabis guide and marketplace, analyzed…
For the last two years, people have been able to stroll into New Jersey dispensaries to buy weed. But growing your own cannabis plant remains a third-degree felony. Despite a growing…