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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