We cannot divorce ourselves from the fact that looking back in time, we are living a strange reality with a new paradigm shift in the galaxy of medical cannabis and adult use; nonetheless, one that is comforting, but reminds us of the days when we thought that the future and/or success of cannabis was impossible, nevertheless now medical cannabis has become a reality in different states as well as different countries. This time it was Missouri’s turn, particularly because the people of Missouri fought hard to make sure that their voices were heard and came out to vote and say yes to medical cannabis. Today, Missouri is looking forward and sees a long but interesting road. But what are the roadblocks ahead?
The answer applies to any industry, or even people; everyone travels the same road in different ways. New obstacles will come, and others will go away. We are witnessing the agronomic, chemical, medicinal and economic advances that have been achieved by states and countries that have undertaken new medical cannabis programs. Thus, new challenges have emerged that give commercial form to this emerging, nascent, vibrant industry, but it doesn’t come without trials and tribulations, such as the search for investment and the proper handling of taxes, that are currently as vital as a good crop. Are we prepared to find solutions?
To give you an example, according to Leafly, one of the most or larger problems happens to be cannabis taxation and accounting such as:
1. Not Knowing About the Cannabis Industry, State Laws, and Tax Laws
2. The (Near) Impossibility of Getting a Bank Account
3. Not Keeping Track of Your Accounts
4. The Living Nightmare Also Known as Being Audited
5. Not Understanding Crucial Business Software
6. Not Being Familiar with Cannabis-Friendly Business Merchants
7. Needing to Safeguard Your Inventory Assets
8. Not Knowing Any Relevant Business Consultants
At any rate, please know that according to the latest information, the following appears to be the scenario of the future for the state of Missouri: Missouri is going to start with at least 192 dispensaries, 61 cultivation centers and 82 manufacturing facilities. This panorama warns that, in addition to the 8 previous aspects mentioned before, there is added the need to create strategies that combine the productive processes and the treatment of patients from a commercial perspective. This means, considering the high demand, those interested in being part of this industry, must seek sufficient investment to support a business that begins with broad expectations in the market.
In conclusion, we have our work cut out for us, we need our business plans prepared, we must be educated to be able to embrace our mission, we must get our funding in place, our locations identified, our corporations and housekeeping matters in place, etc., etc. Let’s prepare, so that we can make the Missouri Medical Cannabis Program the best in the nation, so that we can have the most scientifically proven methodology to provide our patients the best quality of life.
We look forward to seeing you on February 23rd at the Kansas City Marriott Country Club Plaza Hotel to discuss all the above matters and much more. Whatever you do, don’t lose the opportunity to meet other industry players, cultivators, oil extraction experts, doctors, lawyers, information and opportunities for financing and to be able to exchange ideas and plan our vision. For more information regarding our seminar please visit our website at www.pharmacologyuniversity.com and or call Henry Levinski at 817/528-2475 or Dante Picazo at 214/733-0868. Thank you we will see you February 23rd.