There are many challenges associated with setting up a cannabis business just like every other businesses. No one gets it right when you are talking about challenges in businesses but each is tackled as it comes with the right advise, technique and of course, wisdom. Many big entrepreneurs today making waves failed many times but kept on going in order to get what they want.
Challenges never ceases as far as business and life is concerned . When one is resolved, another pops up. How you handle these challenges determines how big you become as an entrepreneur.
Having known that cannabis can be medically used to treat some diseases like cancer, epilepsy, pain, glaucoma, Alzheimer, depression and others. It can also be used for recreational purposes which allows people to use it during parties and other social functions.
Even though that most States are legalizing the use of cannabis in their States, it is still illegal in the United States and this have made people lack the will to grow it even though the Industry is quite known for its cure to these diseases mentioned above. Most entrepreneurs are heading for ward but with the frown of the Federal law, it is quite hard getting any support for such business venture.
Currently, the cannabis industry faces a lot challenges related to banking. Some banking services are not made open to the industry, funds and loans are not accessible by the cannabis entrepreneurs because of its illegality in the country. This have made it difficult for the industry to go more than growing it for one’s personal purpose.
So growing cannabis is all about taking calculated risks which will determine whether you will excel or not in the field. But this does not mean that you will not make any mistake but it will help you assess the risk of every move you take and also assess the rewards if gotten right.
So far as you are trying it for the first time, you are bound to make mistake so it will help you learn better in handling the business.
Some of the obstacle you will encounter while setting up a cannabis business
We have listed some of the challenges you will encounter while setting up your own cannabis business.
Since cannabis is still illegal in the business, it is very difficult to access any loan or bank fund from the banks. They are very strict to people growing cannabis as it is illegal in the United States. Even though most States are legalizing it, it is still very inaccessible to cannabis business entrepreneurs hence, the industry is still limited to its growth as funds are needed in order to cultivate it at a very large expense..
Access to minors
This is another challenges that faces the recreational marijuana. This is because when it is grown in the homes, it gives the minors easier access to the substance which might cause them to start dealing with it or evn become addicted to it. This has made the Federal law to keep being strict about the legality of cannabis in the country.
Driving under influence
This is another considerable fear in the human life. It is an offence to drive under the influence of alcohol and even a bigger offence to drive under the influence of any substance. This is because, marijuana can cause one to drive more destructively, with the person’s excited self, he/she will definitely drive out of control. Cannabis or marijuana contains high level of tetrahydrocannabidiol THC which makes it unsafe when in the body of a person.
Guidelines of drug-testing for employers
Many employers follow the rules of the federal system on employment. When hiring, companies test for drugs, if an atom of alcohol or substance usage is found on the system, the person is disqualified, thereby, not hired. So, it can hinder employment.
Some of these challenges have hindered the cannabis business from growing as it cannot grow without the positive outlook of it. If the disadvantages of it keeps growing and identified, it means that venturing into cannabis business will be a waste of time and resources because often times, the entrepreneur might be busted for usage or sale of it to a minor. Even though the business is growing, investors often keeps far away from investing in it till these issues are tackled.