When Lisa Capitani decided to start a small business to educate and guide medical marijuana patients, she knew she’d need some advice. So Capitani, a nurse who lives in Newtown, turned to other nurses across the country who have cannabis-related businesses. And she applied for a mentor through SCORE, a nonprofit that provides free mentorship and advice to people looking to launch businesses. But her application was recently denied because the program is funded through a U.S. Small Business Administration grant, and marijuana use is illegal at the federal level. Capitani’s experience represents just one of many extra hurdles that often hobble cannabis-related businesses before they get started. Cannabis-related businesses often struggle to get start-up loans. They’re denied assistance programs. They can’t take the same tax deductions as other businesses. They can’t even use Quickbooks. These barriers tend to stem from the same issue: State legislation contradicts federal law regarding the legality of cannabis. There are enough challenges with trying to get into this new semi-regulated cluster mess of a business that it would be helpful if the state offered some kind of access, some kind of access to the kinds of services other businesses have access to,” Capitani said.

Cannabis Business Executive – Cannabis and Marijuana industry news, 11/29/2021 08:38:00

Open article: https://www.cannabisbusinessexecutive.com/2021/11/federal-law-poses-challenges-to-new-connecticut-cannabis-businesses/