3 ms·
Another big issue might be the financial industry. Marijuana is still illegal at the Federal level so banks might be reticent to get involved with providing loa
by RcouF1uZ4gsC 8y ago
Another big issue might be the financial industry. Marijuana is still illegal at the Federal level so banks might be reticent to get involved with providing loans or services to these businesses. Without access to credit and banking services, a lot of people who might otherwise go into business, won't.
- xyhopguy 8y agoDidn't stop Oregon. We've got 5x as many dispensaries as California and wayyyyyyyy less people. Oh and the prices are like 75% lower.
- chiph 8y agoA former coworker's brother-in-law ran into this. He was a finance officer and got laid-off back during the Great Recession. He found a position as the CFO of a dispensary, and one of the first problems he had to address was employees doing cash pickups from the stores using their personal cars. So there were people moving $20k+ daily in their Toyotas (not especially safe!) So he called some of the armored car firms to inquire about hiring them, and they all turned him down flat because they didn't want the chance of his cash getting intermingled with that of Wells Fargo, etc. What he did was set up a wholly-owned subsidiary to do the transport, buying a couple of armored cars to move both the money and the product.