The cannabis industry is facing several challenges, but is it on the right track to find the gold in the green rush? This article discusses the challenges of legalization, innovation, and job opportunities. Hopefully, it will inspire you to join this exciting industry. Read on for more information.
Legalization
A few years from now, legalization of the cannabis industry is expected to bring a wealth of jobs to our country. But this new industry is also a significant threat to worker power and fair wages. Despite the positive economic implications of legalization, there are many unanswered questions about the industry’s future. How can lawmakers make sure workers are treated fairly?. Legalization of cannabis should be a cooperative venture, not a profit-driven business.
The marijuana industry is expected to grow exponentially. While it is inevitable that the cannabis industry will expand, some experts worry about how the new industry will be structured. Some fear that large corporations will flood the market with generic products. In response, a Concordia University law professor and author of Craft Weed: The Future of the Cannabis Industry suggests that monopolizing the industry will be nearly impossible. This is due to the variety of strains that are available.
Challenges
The cannabis industry is facing many challenges. Federal laws have made it difficult to obtain loans and bank accounts, and banks tend to be conservative by nature. Because of this, they are reluctant to open accounts in cannabis-related businesses. In spite of these challenges, the cannabis industry has found many other funding sources, including business accelerators and incubators. Cannabis-related startups may also consider crowdfunding to raise capital. As with any industry, cannabis-related startups must work closely with the Bureau of Cannabis Control and the Department of Public Health.
Regulatory hurdles are another challenge facing the cannabis industry. Cannabis is still classified as a Schedule I drug, so there are many different state laws governing its use. Banking and capital are not as readily available in the cannabis industry as in other industries, such as alcohol and tobacco. Large institutional investors and nationally chartered Federal banks are largely absent in the cannabis industry. However, an increasing number of Cannabis-focused private investment funds are filling this gap.
Innovation
The Cannabis Industry Future Outlook will take place on December 9, 2016 at the Chemical Heritage Foundation in Center City Philadelphia. It will feature multiple panel discussions and 15+ industry leaders with backgrounds in legal, technology, medicine, finance, and more. Attendees can also look forward to networking opportunities and unique marketing opportunities. Here are three reasons to attend:
Changes in policy have changed the landscape of the global cannabis industry. Increasing numbers of countries are preparing for legal regulation of the industry for non-medical purposes. Although these changes will result in clear health and human rights benefits, some serious concerns about the market dynamics will remain.
The cannabis industry should be prepared to embrace innovation and change to stay competitive in a changing world. Here are some strategies that cannabis companies can use to stay ahead of the curve.
New technology is enabling the creation of personalized cannabis products. Cannabis DNA, for instance, is a saliva-based swab test that can identify a person’s genetic makeup. This test is becoming more widely available and can even help consumers personalize products by determining what works for them. The industry can benefit from such innovations as personalized medicine. The cannabis industry also stands to benefit from new technology for cultivation and research.
Job opportunities
Career opportunities in the cannabis industry are increasing, as legalization efforts continue to spread across the country. The industry is predicted to grow at a rate of 220% by 2019, outpacing both tech and healthcare sectors. With over thirty states now legalizing medical and recreational use of cannabis, there are many potential career opportunities for marijuana enthusiasts. There are many fields to apply for within the cannabis industry, and salaries will depend on your experience, qualifications and location.
Marketing and sales jobs are in high demand within the cannabis industry. These positions help companies promote their products to dispensaries. Marketing and sales positions also help to inform the medical community about marijuana products like maui wowie seeds and other potent cannabis strains.
Those in the cannabis industry also need to work on research projects, including in the form of research. Cultivators and extractors are both important roles in the medical marijuana research industry. This work is a great way to earn a living while exploring the industry.
