Cannabis can be a costly industry to break into. Between costly licensing fees on local and state levels, burdensome taxes, shifting regulations, expenses for operations, marketing, and more, it’s not cheap. Tobacco, alcohol, pharmaceuticals giants are in the same boat, but over the years have all fought federal regulations. With cannabis legalization on the horizon, should the industry fight against regulations or let it be so that change can happen?
Here’s one toke (and a good one at that): Where consumable products are concerned, being in compliance (whether you agree with regulations or not) is one thing you and your business should not be cutting corners on. If for no other reason, you shouldn’t forgo compliance for the simple fact that getting stung for non-compliance can cost you so much more. The gist is pretty straightforward, the real costs of non-compliance are staggering. Punitive fines, paying for mandatory employee training, lost revenue due to your business being shuttered, forfeiting your license, uhh, prison. Yep, pretty staggering, and far more encompassing than “just a fine.”
Read more at tinyurl.com/hqnews-compliance