Marijuana is a psychoactive substance that is widely used around the world for various purposes. Some enjoy the ecstatic feelings and mind-high they get after ingesting it, while some utilize it for medical purposes. Despite how socially acceptable the plant has become, it is still illegal in many countries, and most governments do not plan on legalizing it anytime soon. However, the use of the plant has never decreased. Instead, people are continuing to use it more and more for various purposes and are taking steps to legalize it.
The Marijuana Industry
Marijuana, also known as cannabis, has a considerable business industry. It involves risks that endanger providers due to limited availability and legal issues. However, those risks do not stop people from earning and setting up businesses to provide the public with this psychoactive plant. This has caused many changes in the business industry of medical marijuana. Many are coming together to improve the legal status of the plant and make it more readily available for recreational and medicinal use.
In the millennial age, everything has been affected mainly by technology. From automatic flushing toilets to cars that park and drive themselves, the marijuana industry is not unaffected by technology. Worldwide entrepreneurs have affected the marijuana industry as well.
Entrepreneurs Taking a Huge Interest in the Industry
Previously, the recreational use of marijuana had a doubtful reputation. Typically, marijuana users did not carry a positive reputation in society. This created a concept in most people’s minds that the industry would soon perish. However, in some places like Silicon Valley, entrepreneurs have rapidly changed the way people see this industry.
Due to the hype in media, the potential benefits of marijuana, such as curing joint pain and seizures, increase the plant’s recognition among people worldwide. The increased social acceptance has caused the sale of marijuana to go up by almost 50%. This increase in sales became too big to ignore. Considering only the United States, sales reached an astounding $1.5 billion in 2013.
Recent studies show that more than 58% of Americans now support the sale of marijuana. With governments taking steps to close these dispensaries, politicians and authorities are undecided on just how many legal certificates they will grant. Spokespersons for the cannabis industry are trying to balance the demand of the public with the amount of marijuana produced because they look forward to ultimately diminishing the black market.
Technology has enabled dispensaries to keep online bookkeeping records of how much marijuana has been sold, bought, utilized, transported, and wasted. Retail stores and dispensaries providing marijuana are planning to collaborate to improve the plant’s safe sale.
Retail stores working in collaboration with marijuana dispensaries are now supposed to have a medical certificate that allows their staff to sell the plant to patients with legal permission. These certifications aim to educate employees to assist patients in a better way.
According to changes in the laws for selling marijuana, retail stores will be able to sell potent products that can be used for recreational purposes by patients who require it. The products that are sold will mostly be limited to suppositories, capsules, tinctures, and transdermal patches.
With more states heading towards legalizing marijuana in the future, investors and professionals from all over the world are heading towards cannabis faster than people head for a gold mine hunt.
Whether it is designing indoor farms to grow the plant successfully without geographical limitations or developing new vaporizers for effective and harmless smoking. These fresh entrepreneurs have decided that, no matter how protective the law gets towards cannabis, they are determined to make it more accessible and legal for both recreational and medicinal purposes.
Despite the “not-so-successful” acts of the government and the rapid changes made by tech-entrepreneurs affecting the marijuana industry, do you support the legalization and availability of this psychoactive plant?About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.