Despite all the hardships that come with being in the cannabis business, it hasn’t stopped many from starting their own with the hopes that one day soon, cannabis will finally be federally legal. This article originally appeared on Cannabis.net and has been reposted with permission. According to New Frontier Data, the United States cannabis industry is poised to be worth a staggering $30 billion each year by 2025. Cannabis legalization continues to spread across new states, while members of Congress continue to push for reform. Federal legalization is still being debated, but once it finally breaks through, the cannabis industry can reach even higher heights unlike ever before. In addition, data from Vangst shows that the legal cannabis industry employs over 420,000 people as of January 2022. They add that 280 new jobs a day, on average, were added in 2021. With these statistics, why is it that many cannabis businesses struggle to see profits? A recent survey conducted by the National Cannabis Industry Association polled 396 cannabis business operators from 20 states, with a goal to “establish a baseline of data, and identify the successes and the challenges that operators in the industry are facing.”
Terry Hacienda, The Fresh Toast, 05/05/2022 10:00:00