What is the future of the cannabis business and industry?

Cannabis growers have to plan for long term business or earn quick money and exit the industry:

Marijuana is not yet legalized in the Federal law and is banned under schedule 1 drug. Though approximately half the states allowed it, especially the most populous state of California. According to New Frontier Data, the cannabis industry created 340,000 jobs only in 2019 and $23 billion will be earned in America alone by selling marijuana legally in 2025.

So, what is the future picture revealing before yourself? Are you any future potential in this industry for cannabis growers?

Let’s discuss some factors before jumping to the conclusion.

What Americans are thinking about cannabis?

Name the person who doesn’t want to get high. Marijuana once considered a hateful junk by Americans. It was legally banned and morally considered very bad. But the attitude of the Americans towards cannabis changed slowly. And now, 67% of Americans favor the legalization of cannabis, according to the Pew Research survey. This change in attitude as surprising and also a blessing for the cannabis industry.

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Legalization:

With time more and more states are legalizing the use of cannabis. Laws towards cannabis use is softening. The time is not far when the Federal Government also has to allow the legalization of cannabis. After that, the real production of cannabis will start, because of export. There is a huge cannabis global market. This cannot be yet touched because of the ban in federal law. American cannabis regarded as the gold standard but it cannot be exported.

Business potential:

Business potential is huge. Lots and lots of people, especially the young generation, is becoming a consumer of cannabis. The demand is huge, compared to supply. New cannabis facilities are established every other day.

So, what’s the conclusion?

The conclusion is that future looks great for cannabis businesses and industry. Just take the example that new financial institutions established for giving loans to cannabis growers, even when there are banks. This is the right time to invest in this industry keeping in mind the long term goals because this industry is not going anywhere.

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