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 […]
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 […]
How to Choose the Right Marijuana Stock
With the rising public acceptance of cannabis, this risky asset class presents a fantastic opportunity for your stock portfolio to develop.The global legal cannabis industry is expected to reach $84 billion in value by 2028. With such remarkable growth anticipated, it’s unsurprising that many investors are interested in cannabis stocks. With that being said, you […]
How to Finance Your Cannabis Business
New Frontier Data projects the U.S cannabis market is expected to reach $30 Billion in annual sales by 2025. This growth is fueled by increased consumption as adult-use becomes legal across the country. Given the upward trend, many entrepreneurs are eager to learn how they can start their own cannabis business, such as a dispensary […]
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 […]
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 […]
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 […]
Cannabis Business Plan Writing: 3 Tips for Success
With the massive growth of the cannabis industry over the past several years, entrepreneurs across the country are eager to learn how they can break into this highly sought-after space. Whether you’re interested in opening a dispensary, extraction facility, or even hemp and CBD store, having an effective business plan will get your venture off […]
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 […]
Cannabis Capital Raising: Bank Loans & Private Investors
While running a cannabis business can be financially rewarding, it also comes with its own set of unique challenges. In our Cannabis Banking Guide, we touched on the unwillingness of financial institutions to work with state-approved cannabis businesses. Because cannabis is still considered a Schedule 1 substance, one of the biggest hurdles you’ll likely face […]
