Cash flow management for dispensaries & other cannabis businesses.
Because cannabis is not yet federally legal, many businesses have a hard time opening bank accounts and processing debit or credit card transactions. This leads many cannabis businesses, like dispensaries, to be entirely cash-based. While dealing with cash can have its perks, many business owners find it extremely difficult to track funds and maintain organized financial records.
In essence, cash flow management is the process of tracking how much money is coming in and out of your business. At Green Space Accounting, our team can develop both short-term and long-term cash flow projections to help you create a strategy that will propel you toward meeting your business goals!
Mastering budgeting setting and forecasting for your cannabis business can allow you to stay prepared for oncoming regulatory fees or other unexpected finances. Cannabis businesses
As dispensary owners, you have several responsibilities and you occasionally wear different hats in your business. This is hard to juggle, especially if you don’t
Managing cash flow is a challenge if you’re trying to maintain it for financial stability. Without a stable cash flow system in place, your 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
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
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
Finding yourself in a cash crisis can be detrimental to your business. Contact us today for a FREE consultation and start putting practical cash-flow management solutions in place.
Dispensary cash management can be challenging since these businesses typically have many moving parts. Navigating different seed-to-sale systems in each state while purchasing inventory and paying employees can make it complicated to get a clear view of your cash flow. Working with a cannabis accountant to manage your cash flow will make it much easier to identify areas of improvement and create a plan for increased profit.
According to research done by U.S. Bank and cited on the SCORE/Counselors to America’s Small Business, 82% of businesses fail due to poor cash flow management skills.
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