Why Cost Accounting is Important in the Cannabis Industry
As the legalization of cannabis trends, more and more entrepreneurs are seeking to enter the industry. While there is ample opportunity for potential business owners, it’s important to keep in mind that the industry is highly regulated and has its own unique set of challenges. It takes extreme diligence to break into the cannabis space […]
4 Tips for Maintaining a Compliant Accounting System
As a cannabis business owner, maintaining your financial records should be at the top of your priority list. There is little to no room for error when it comes to adhering to your state’s compliance regulations, particularly when it comes to finances. Complicated banking regulations and tax codes make it much more difficult for cannabis […]
How Strategic Partnerships Add Value to Your Cannabis Business
Earning a reputation in the cannabis industry can be difficult when you’re just starting out. So, what do you do if you’re looking for an opportunity to increase your exposure? One way is by establishing strategic partnerships with other cannabis entities to build your presence in the market. Whether your goal is to create a […]
Cannabis Legislation Guide: New York
As recreational legalization across the country increases, more and more states are opening themselves up to the acceptance of cannabis businesses and dispensaries, and gearing up to participate in a rapidly growing industry and serve an eager customer base. Recognizing the negative impacts that former marijuana prohibition tactics had on its communities, New York has […]
Cannabis Legislation Guide: New Jersey
While it’s been nearly a year since New Jersey voters passed a referendum to legalize cannabis in their state, it was not until last month that regulators came together to establish the initial rules for an emerging marijuana retail industry. After spending time taking considerations from the public, the state aims to develop a cannabis […]
Cannabis Legislation Guide: Virginia
Cannabis Legislation Guide: Virginia On April 21, 2021, Virginia broke ground by becoming the first southern state to begin the process of legalizing adult-use cannabis. While this is a huge milestone for cannabis lovers, especially for those in communities that have been wrongfully affected by prohibition and policing, legal sales of the plant will not […]
Why Outsourcing Accounting Will Maximize your Dispensary’s Revenue
As an entrepreneur, you know that time is your most valuable commodity. Many business owners make the mistake of wearing too many hats and wasting hours trying to figure it all out by themselves. Outsourcing your accounting to cannabis industry professionals is one of the best options to solve this problem. With so much competition […]
The Basics of Starting a Cannabis Business: Funding & Financials
Those interested in starting their own cannabis business are likely aware of how difficult the industry can be to navigate. It’s hard to know where you should even start between adhering to strict federal regulations and making sense of the application process. Before jumping in head first, keep reading to learn some basic fundamentals about […]
How to Open a Dispensary in 2022
It’s no secret that the Cannabis industry is growing fast. With more and more states legalizing the plant for adult recreational use, entrepreneurs all over the country are rushing in to become a part of the cannabis gold rush. Excited at the prospect of large profit margins, and high customer demand, many business owners have […]
Cannabis Industry Payroll: How Is It Different?
Cannabis is a multi-million, and in some states billion, dollar industry that will continue to grow as more states move toward legalization. While cannabis is legal for adult use in some states, it’s still federally illegal. The legal status of cannabis brings about complex challenges for cannabis business owners. Due to certain regulations, many cannabis […]
