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CPA’s Tips on Building a Solid Foundation for Your Dispensary

The cannabis industry has experienced exponential growth as adult use has become legalized in many states over the last few years. If you’re considering opening a cannabis dispensary, you need a strong financial foundation.  It’s best to start with a robust and detailed business plan, which is the first step to state licensing. This plan …

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Bookkeeper vs. Accountant: What’s the Difference?

In the cannabis sector, the need for flawless record-keeping and accounting combined with permanently evolving regulations means cannabis businesses face a steep challenge in maintaining financial compliance.  Relying solely on in-house methods for cannabis bookkeeping and accounting purposes could prove futile, especially given the busy pace of the cannabis space. Thus, the wisest approach to …

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5 Fatal Mistakes You Might Be Making As A Cannabis Business Owner

Cannabis business owners are often passionate about their product and service, but that doesn’t mean they’re immune to making mistakes. Given the strict regulations put in place by lawmakers, a few fatal errors can cause your business to have serious problems.  Keep reading to learn five of the most common mistakes made by cannabis business …

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Top 3 Challenges for Entrepreneurs When Entering the Cannabis Industry

Although cannabis legalization is spreading across the United States, the industry is still in its infancy. This means that entrepreneurs who are eager to get involved in cannabis may find themselves facing many roadblocks. From regulatory concerns to financing issues, there are a number of potential pitfalls that could trip up your business. This blog …

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What Do Dispensaries Do With All Their Cash?

Many states in the U.S have legalized marijuana for medical and recreational purposes, making it a multibillion-dollar industry. Plant touching operations, like dispensaries, enjoy a steady cash flow under perfectly legal and licensed state laws. However, federal law still categorizes cannabis as a Schedule 1 drug, causing issues regarding banking and customer payment methods. Have …

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Guide: How Do Dispensaries Pay Their Employees?

It’s no secret that the future is bright for the cannabis industry. According to Leafly, the US cannabis industry supports over 320,000 full-time jobs. That’s an impressive number considering the industry is still young by many standards. While this growth is exciting for entrepreneurs, there are still many federal regulations that make it challenging for …

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Cannabis Business Tips: Why You Should Outsource Your Accounting

At Green Space, we know that running a small business is not always easy. Managing your finances as a cannabis company can be much more complicated than the average start-up, with constantly changing state laws and regulations making it difficult for dispensaries and cannabis companies to keep a compliant financial system in place. Rather than …

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