Although it is still fairly new, the marijuana industry has great potential for growth, especially as more research on the medical benefits of cannabis is carried out. At the moment, however, legal cannabis sellers face a harsh federal landscape that makes it quite difficult for them to operate effectively compared to players in other industries. One of the biggest issues, perhaps, is the industry’s lack of access to banking services, and a business that doesn’t find ways to circumvent this limitation will have a tough road ahead of them.
Despite being denied access to banking services, you are still required to keep proper records. It is the most effective way of proving regulatory compliance and business growth, both to potential investors and the government if they come knocking. This may be a little difficult, as most legal cannabis sellers…
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