Guidelines and regulations continue to change and evolve making operational compliance in the cannabis industry complicated and confusing, no matter what type of cannabis business you own and manage. We previously discussed maintaining compliance at the dispensary and retail store level. Just like the dispensaries and retail stores, cultivation sites...
Without a doubt, compliance is one of the top challenges facing the cannabis industry. And laws and regulations affect more than just one area of an operation; they affect employee hiring and termination practices to data security and customer privacy, to product sales and packaging. Not only do cannabis businesses...
The cannabis industry has grown exponentially over the last several years. As more states are legalizing recreational and medical marijuana, more and more grow rooms and dispensaries are popping up around the country. While the industry is certainly growing rapidly, the size of the cannabis businesses, i.e., number of employees,...
Maintaining compliance is an ongoing challenge for cannabis dispensaries and retail stores as each state has different regulations that frequently change. Fortunately, many mistakes and violations that occur can be avoided if owners and managers work to stay ahead of issues before they become unmanageable and unlawful. Learn the top...
With the current state of cannabis banking, businesses have little to no access to financial services forcing many dispensaries to operate as cash-only, which opens up its own Pandora’s box of problems and risks. A number of lawmakers have proposed a solution to the cannabis banking situation —the Secure and...
Until lawmakers help remove banking restrictions and regulations like the SAFE Act are passed, cannabis businesses will face ongoing banking challenges. But, that’s not stopping the cannabis industry from expanding. Cannabis and cannabis-related businesses continue to find workarounds and alternative options—often settling on running cash-only businesses. Startup cannabis businesses, for...
Cannabis businesses continue to struggle finding the banking and financial support needed to open deposit accounts, secure loans or lines of credit, and manage payroll. Without the proper banking relationships, dispensaries are also unable to accept checks or credit cards for sales transactions. A number of institutions have started working...
Although marijuana is legal in specific states, it is still considered illegal under Schedule I of the Federal Controlled Substances Act. Because of this, many cannabis businesses continue to struggle with everyday operations like securing trusted banking relationships and legally paying their staff. Finding a trusted provider is an additional...
The annual return on investment from using a Professional Employer Organization (PEO) = 27.2% (This is based on calculating cost savings for PEO clients in the areas of: HR personnel costs, health benefits, workers’ compensation, unemployment insurance, and other related expenses. – NAPEO Sept 2019) Introduction Ensuring your business thrives in a competitive...
With an employee turnover rate of 40 to 60 percent (in the first two months of employment), it’s no surprise that employee retention continues to be a significant challenge in the cannabis industry. While new hiring strategies help attract and find the right talent, there is always a gamble that...