Small Business Guidance: For Cannabis Businesses

          In this series of articles detailing suggestions for businesses, there is one point that has become abundantly clear: running a business is hard. That difficultly is only increased when it has anything to do with cannabis. It’s legal in some states, being considered in others, but is still illegal at the Federal level. This is just one reason why these businesses have the odds stacked against them.

          This underlying fact has led to a situation where Cannabis entrepreneurs do not have access to typical business options. Due to their Federal status, lenders and banks will not deal with them. Having a cash-only business is not necessarily bad, as long as meticulous records are kept. A business in this industry must be extra careful that there are no errors in its financial records. These firms may be well served by outsourcing their accounting and bookkeeping needs. In this way they can focus on marketing, and staying on top of changing regulations that allow them to stay in business. A Qualified Tax Professional can make a heavy load a little lighter. 

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