Now that marijuana for medical or recreational use is legal in 29 states – or more than half of the country – should American workers, entrepreneurs and investors give it consideration as a career choice?
It is a “high” risk and “high” reward proposition. The competition is fierce and government regulations – both on the state and federal level – could have enormous implications for the Cannabisbusiness. On Jan. 4, 2018, Attorney General Jeff Sessions rescinded Obama-era memos that assured cannabis businesses they would not be subject to federal prosecution as long as they followed their state’s laws. Moreover, in 2017, only 368 of 12,000 financial institutions in the U.S. served cannabis businesses.
However, the cannabis business is projected to grow to $24 billion by 2025 and 97% of recreational stores make a profit or break even. If the government and financial institutions continue to support it, we have only seen the tip of the iceberg in terms of how lucrative it can be. It has already created tremendous amounts of jobs and tax revenue.
The University of Cambridge just announced it will teach the first-ever “Seed to Sale” Cannabis Case Study to some of the brightest business school minds in the world.
With many other colleges set to follow suit, it is becoming an increasingly popular career path.
To help break down the opportunities and risks, the team at BusinessStudent.com released: The Unique Challenges of The Cannabis Business — Report and Infographic.