An industry veteran shares information on banking myths in the cannabis industry and how things have changed over the past 5 years.

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Anyone who has visited an area with a booming cannabis industry – whether a medical or adult-use market – is likely familiar with the scene: some storefronts have lines around the block while others are somewhat empty. In states where cannabis licenses are plentiful, the competition can be fierce. So how does a shop differentiate itself in a neighborhood or city and increase its market share?

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Happy New Year from the team at Canna Business Solutions, your experts in accounting and compliance services for the medical cannabis industry! Thanks to all our great partners and we look forward to growing with you in 2020 and beyond.

Ever since Colorado and Washington became the first two states to approve marijuana legalization initiatives in 2012, additional states have joined them in each biennial election that has followed. And 2020 could be a banner year for cannabis on the ballot.

There are at least 16 states where advocates believe marijuana measures could go before voters next year—some considering full-scale recreational legalization while others would focus on medical cannabis.

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The year 2019 will go down as an exciting and tumultuous year in weed. From Vapegate to SuperBowl gate, the national conversation about cannabis got more heated than oil in a cartridge.

But beyond the controversies and the news headlines, there was also a thirst for more education. CBD and hemp were among our most-searched terms, proving a genuine interest in learning more about the basics of cannabis.

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In various parts of North America, cannabis is becoming legal. As it does, entrants in those regions (as well as interested parties worldwide) are preparing to build products, services and brands for a whole new audience. It’ll be the first time in most of our lives that an entirely new product category is available. Click the link in our bio for strategies to capture new consumers.

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‘Tis the season for increased holiday spending – and that includes outlays on recreational cannabis products, which saw average category sales increases of more than 50% in 2018 on items designated for both gift-giving and personal consumption.

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Here are Leafly’s 2020 cannabis predictions. http://bit.ly/34AnKQI

The cannabis industry is at a crossroads where companies will need to differentiate based on profitability, strong yet simple capital structures and investor communication.

That’s the overall takeaway from Marijuana Business Daily‘s inaugural Investor intelligence Conference, part of last week’s MJBizCon Week in Las Vegas.

Companies that want to thrive in the new environment generally will have to improve their focus on corporate governance and shareholder communication, according to Investor Intelligence’s analysts.

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At a time society is crying out for businesses to show an environmental conscience, cannabis companies nationwide are searching for ways to do their part and keep their ecological footprints as small as possible.

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