Pot blocks: obstacles keep small business owners from a multibillion-dollar market
This year’s election may have been dominated by Donald Trump, but it was also about marijuana. California, Massachusetts and Nevada made recreational use legal as a bunch of other states moved to legalize medical use. The victories weren’t all about getting high. The promise of marijuana is money – money for state taxes and for the bushels of small businesses that are being created in legal weed’s wake. Next year will be a big test for those businesses and, according to some, those promises are already going up in smoke.
Marijuana retail sales, both medical and recreational, could reach $4.3bn this year, according to the 2016 Marijuana Business Factbook, an annual survey of cannabis-related ventures conducted by Marijuana Business Daily. Access to a multibillion-dollar industry that could create new jobs is a prospect that appeals to voters otherwise uninterested in pot, but some of the aspiring entrepreneurs chasing that...
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