A rush of “green business” to follow recent marijuana legalization?

In theory, we should be seeing large opportunities for new businesses now that marijuana has been legalized in a few states.

In practice, the federal government’s position is still not clear, so it remains off-limits for many investors.

Considering the jobs problem that remains, and is likely to remain, in the US this year, new businesses are needed.  And this includes new “green business” created as a result of (limited) pot legalization in Colorado and Washington state.

It’s not just the growers that could see investments, but also the suppliers, the packaging, you name it. As the video below mentions, it’s an entirely new business opportunity that is emerging from the smoke, as it were, which is rare.

marijuana money

Pot via Shutterstock

As someone who really likes creating new business, I find it an exciting time for the marijuana industry, though it has to be enormously frustrating. Banks won’t touch anything related to the legal (in certain states) marijuana industry because of federal laws. Thought somehow the illegal drug cartels did just fine for years with HSBC, as did Wachovia.

For new business creators, this means no bank loans, no bank accounts, and no credit card processing — all of which makes opening up a new business challenging.

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An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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  • http://twitter.com/CannabisTourism Cannabis Tourism

    We’re ready in WA state to help new cannabis tourism businesses organize. http://growa.us

  • Dano2

    I’m looking for the video referenced in the post, but don’t see it.

    Best,

    D

  • Naja pallida

    When it comes to banks, it is all a matter of what they can get away with. With the spotlight on these states right now, banks are probably steering clear lest they become linked with the sale of pot. Which could, theoretically by federal law, allow their assets to be frozen or seized (not that this would ever happen). Now, if no one was paying attention, they wouldn’t care. Sounds to me like a perfect opportunity for a credit union or other local investor to get in on the ground floor. But everyone is wary just how the DEA and “Justice” Department is going to actually act. Nobody trusts them, even when they say they won’t move in on these states. Which I think says a lot in itself.

  • judybrowni

    Check out the last episode of Weeds for the future of these “green” businesses:

    http://www.tv-series.mobi/2012/09/weeds-s8e12-13-its-time-part-1-and-part.html

  • magekillr

    Where’s the video, Chris?

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