MIAMI, FLA., Cannabis is forecast to be a $60 billion industry by the end of the decade and entrepreneurs are anxious to claim their share, but that doesn’t mean current and prospective business owners won’t face considerable challenges along the way.
To date, 38 states and the District of Columbia have legalized recreational and/or medicinal marijuana, but the federal government still classifies pot as a ‘dangerous substance’ and it’s unclear when that might change. A bill before the Senate, the Marijuana Opportunity and Reinvestment Expungement (MORE) Act, would make it legal to possess cannabis, but it has languished despite being passed by the House of Representatives in both 2020 and 2022.
Meanwhile, state regulations in the relatively new industry are onerous and the disconnect between states and the feds has made it difficult for many to obtain the capital required to set up or grow a cannabis-based business.
“It’s important that those already in or seeking entry to the cannabis industry affiliate with a firm that has experience, connections, and offers banking solutions,” said Al Razavi, a managing partner at TAP Financial Partners. “We’re one of the few that can offer a comprehensive set of services and is already positioned to help clients take the next steps.”
You can view the whole article at this link The Struggle is Real for Cannabis Entrepreneurs on TAP Financial Partners
