Business Momentum is Slowly Building in Cannabis-Related Businesses

©iStock/LewisTsePuiLung

The U.S. House of Representatives last month passed the bipartisan SAFE Banking bill, aimed at allowing complete banking access to cannabis companies. Its fate is uncertain in the Republican-controlled Senate.

Although the SAFE Banking bill faces an uncertain Senate fate, financial institutions have found other ways to navigate complicated regulations. To open accounts for cannabis companies, banks need to file a federal Suspicious Activity Report and continue to monitor accounts spotted by it. Abiding by these due-diligence clauses not only cost more to banks but also increases the risk of federal penalties, such as being cut off from the FDIC.

The cannabis might be underbanked (not in Vienna Austria) but the truth of the matter is that more than 700 institutions [banks] now serve marijuana-related businesses across the country.

Today in Global Small Business: The World's Champion on Exporting

©2019 Apress.  All rights reserved.  Used with permission.

What's affecting me, my clients, my colleagues and other global small business owners:

• If you are struggling with how to take your product or service overseas, do yourself a favor and sign up for this upcoming (7/18) New York NEXCO event featuring the world's champion on exporting, Laurel Delaney, who will present "How to Export Successfully in the Digital Age." Program includes an after-seminar reception for wine-tasting and networking with the NY metro exporting community.  For more information and to register, visit:  https://conta.cc/32srXWS  
• Quote of the week: “If you are not taking care of your customer, your competitor will." — Bob Hooey
• Two businesses are bringing small business owners around the world a comprehensive array of products and services to make running their enterprise easier, more efficient and more profitable.
• For labor to secure gains, in the United States or globally, workers must mobilize.  Here's why.
• When it comes to global payment technologies there are several countries that are the most advanced.  However, it is two specific countries that stand out and make the payment experience easy for the global consumer. 
• Many business owners believe that in the not-too-distant future — they will be exporting a “significant chunk” of the cannabis they are growing domestically.  The cannabis market is expected to grow exponentially (globally) in the next couple of years.

Today in Global Small Business: Taking a Personal Care Company Global (weggchat™)

©2019 Women Entrepreneurs Grow Global™.  All rights reserved.

What's affecting me, my clients, my colleagues and other global small business owners:

• Join Jacqueline Smith, CEO, Kiesque on her weggchat™where she will discuss how to take a personal care product global.  It's free and all you need is a Twitter account.  Go here to find out why you should join the chat and how to do it.
• Quote of the week:  “One of the only ways to get out of a tight box is to invent your way out.” – Jeff Bezos, founder, chairman, CEO and president of Amazon
• Lessons from McDonald's global trademark battles.
• Learn about Populous, a P2P (peer-to-peer) invoice discounting platform. It is a global invoice trading platform built on Blockchain’s distributed ledger technology.
• Colorado cannabis companies eye the global marketplace.
• Familiarize yourself with Bitcoin Magazine.

Canadians Embrace Moving Cannabis Across Borders

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With some of the major names creating a presence in key markets like Canada, Jamaica, Peru, and Colombia, it's become evident that the time is now to prepare for cannabis trade across international borders.

So far only a handful of companies are performing wholesale transactions internationally and each of them is based in Canada. This is largely due to the country's status as the first G7 country to fully legalize adult-use cannabis, which enables the production capabilities and legal frameworks to facilitate international transactions. 

Will Canada become a production giant for international cannabis trade?  Can Canada meet global demand?

Are you ready to go global with your cannabis company?

Pot (Cannabis) Goes Global

iStock/Sorsillo

The late rock star Jimi Hendrix is known for his affinity toward marijuana, now will also be known for a brand of cannabis.  And that cannabis, also known as pot, will go global through the efforts of Silver State Trading.

"We license to best-in-class operators who have the legal rights to produce, cultivate and distribute cannabis in medical or recreational states nationwide, and also internationally," said Andrew Pitsicalis, Purple Haze Properties CEO and president, in a statement.

Read more:  Jimi Hendrix-branded pot going on sale in Colorado