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.
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.
Visit NBCNews.com for breaking news, world news, and news about the economy
Print
