Medical and recreational marijuana have become quite popular over recent years. While cannabis has been smoked since long before recorded history began, modern society has had a backward view about the plant. The shift in public attitude has helped get the legal cannabis business started, but financial institutions have made plenty of additional headaches and hoops for business owners deal with. Luckily, some changes are on the horizon.
Focus on the Future
The addition of the Safe Banking Act may shape things for the best. According to reports, the proposal will make it easier for banks and other financial institutions to lend funds to businesses in the cannabis industry without worry of the many legal and financial setbacks that can come along. Access to bank funds is integral for the success of any business and marijuana organizations have been kept out of the loop in recent years. If this changes, the proposal will make life easier by:
- Offering bank funds to cannabis businesses
- Allow small businesses a chance at success
- Protect goods and shipments from federal intervention
By taking your time to review the ins and outs of your industry, you’ll have a much easier time navigating the complicated rules and regulations. Learn more and discover how you can stay ahead in this emerging and lucrative field.