Business owners and growers in the cannabis industry are facing unprecedented times of demand from consumers, with new stores opening all throughout the United States. Whether you are overseeing an independent company or a company-owned store, you'll need to rely on specific accounting protocols for everything to run smoothly.

As more states legalize cannabis, the market continues to grow. Retail sales were expected to reach around $15 billion by the end of 2020, a 40% increase over 2019. Estimates show that total U.S. sales could reach as much as $37 billion by 2024.  With the market experiencing such significant growth, it’s catching the attention […]

Running a business is hard work. If you run a cannabis or hemp business, it’s often even harder. There are so many strict rules and regulations to keep track of to stay compliant. On top of that, banking is much more challenging. As a cannabis or hemp business, you need to stay on top of your financials to maintain compliance. Having an understanding of good accounting practices can help.

Considered a “secret weapon” by the states against the industry, these taxes are a method for reducing use and demand. But as the interest and consumption of cannabis only continues to grow throughout the country, it’s really just a way for states to bring in more revenues from the industry.

In the aftermath of the COVID-19 pandemic, more businesses than usual are expected to file for bankruptcy. Unfortunately for those in the cannabis industry, filing bankruptcy isn’t a possibility.