The SAFE Banking Act: An Update on Cannabis Banking Reform
A common hurdle for nearly all cannabis businesses is securing the basic financial services they need to operate. From the beginning of the legal cannabis market, finding banks and credit processing companies that were willing to work with the cannabis industry has been a dauntless challenge, as few institutions were willing to take on the […]
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What the Cannabis Industry Learned in 2021, and What to Expect in 2022
At the close of each year, the cannabis industry leaders and innovators who keep it growing examine the lessons of the previous year and anticipate how to apply these lessons for the most success in the year to come. Let’s take a look at some of the biggest trends of 2021 and what they mean […]
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How Does a Lack of Available Services Impact Cannabis Companies
As many in the cannabis industry know, securing even basic business services can be a challenge. Important services like insurance, banking, and credit processing are all affected by this shortage of providers willing to work in the cannabis market. Much of this apprehension around working with cannabis businesses comes from the continued illicit status of […]
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Is It Difficult to Obtain Cannabis Insurance Policies?
There is a lot of risk that comes with starting a business. Even when properly managing that risk, the unexpected can happen. It is for this reason that businesses buy insurance policies that protect their assets. For cannabis businesses, that risk is even higher, yet many find it challenging to obtain the right kinds of […]
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Managing Risk in the Cannabis Industry
Starting a business and keeping it operating day-to-day can be a challenge. For the cannabis industry, this is especially true, as unique obstacles can quickly become roadblocks. Understanding how to minimize your risk (and how to prepare yourself for the unexpected) can be critical to the survival of your cannabis business. Here are a few […]
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Unique Issues Facing Medical Cannabis Businesses
Medical marijuana businesses experience a number of roadblocks that set them apart from other consumer-facing businesses. These issues range from strict regulations and artificially-restricted consumer bases as well as limited access to business services. With the potential to limit successful growth, these challenges must be acknowledged. Here we will look at the common issues medical […]
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Top Insurance Coverage for Cannabis Dispensaries
As the most public-facing aspect of cannabis operations, dispensaries face specific levels of risk that other cannabis companies may not. That makes it critically important to secure the right insurance policy to protect your assets. To that end, let’s look at the top insurance coverages for your cannabis dispensary. Property Coverage As a cannabis dispensary, […]
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Can I Protect My Hemp and CBD Supply Line?
With its formal legalization due to provision in the 2018 Farm Bill, hemp is prepared to grow into a major U.S. crop. With the most prominent consumer use continuing to be CBD oil, the cash crop is drawing countless brands to market, intent on filling consumer demand. If you’ve recently entered into the hemp and […]
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What are My Legal Obligations for Insuring My Cannabis Company?
You already know it is a good idea to insure your cannabis business, but with the cannabis industry continuing to exist in a legal gray area, it isn’t always clear which path is the right one to best protect your assets. Conflicting state and federal laws add further difficulty in knowing just what insurance coverage […]
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D&O Coverage: Who Needs It and Why
Fear over potential lawsuits can make it difficult for officers, board members, and advisory teams to confidently conduct their duties without fear of asset loss from potential liability. D&O policies cover your organization and its management in the face of financial penalties as a result of a lawsuit, freeing them to make necessary operating decisions. […]
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