The Medical Benefits Of Cannabis Are No Longer Ignored
Cannabis is no longer a topic of taboo and spoken about in hushed tones. With the awareness of its benefits, more people are now opting to use it. In countries like Canada, it is even legalized. With the novelty of this product and ease of regulations now applied to it, the Cannabis industry is now booming like never before.
If you are too looking at joining this industry, here are a few interesting facts about cannabis industry that you need to know.
It Isn’t A Sleazy Business
If you are imagining that cannabis distributors are people who stand in the dark alleys selling pot, then you are mistaken. This industry has taken a wholly professional approach after being legalized. Law firms too are dedicated to helping this industry stay compliant along with full-fledged marketing companies that help establish brands. There are even doctors now who prescribe CBD oil as a part of their treatment to their patients.
It doesn’t Target Addiction For Children
The myth that the cannabis industry is targeting kids is a wrong impression created by people. Just like cigarettes and alcohol, this industry too often have legal restrictions against the sale of cannabis to minors. They could face serious repercussions if they stray from this law. As no industry wants to bring that kind of bad reputation towards themselves, they too follow the same law. The industry targets people of legal age who are in need of it due to medical conditions or for recreational purposes only.
They Don’t Have Access to Bank Loans
Though the cannabis industry has grown leaps and bounds over the last few years, due to its sensitive positioning in the legal system, most banks do not offer loans to them. In many countries, there are laws that still prevent banks from accepting money from industries that are not completely deemed legal. Due to this reason, business owners hire CFO for the cannabis industry who takes care of all the legalities included. Accounting and cash exchanges are handled by these individuals to reduce the risk of losing money. However, they still have access to private loans though the interest rate on that is usually high.
They Can Advertise Easily
Social media handle like Facebook removed the ban on marketing Cannabis products in the year 2019. They can now advertise easily on the online platforms provided they follow the basic rules regarding it. They can also make use of other marketing techniques like affiliate marketing, podcasts, etc. However, not many countries allow advertising to take place in newspapers.
It is Not a Male Oriented Industry
Though traditionally this industry was stereotyped as a ‘men only’ business, it is not anymore the same. Women too have joined the cannabis industry. There are even several books, magazines, and documentaries about women who have entered and thrived in the cannabis industry.
With cannabis industry gaining momentum and busting old myths around it, it surely is something that more people will benefit from. As more countries are understanding the benefits of the cannabis industry and easing the legalities around it, the time for it being a completely new market for everyone to enter and enjoy is not very far.