Legal cannabis in Canada is booming. In fact, Statistics Canada reported cannabis sales reaching an all-time monthly high nationally, at just over $270 million in October of 2020. Given the rapid financial growth of the Canadian cannabis industry since it was legalized nationwide in October 2018, retail businesses selling cannabis need to manage their finances expertly. With this in mind, those hoping to enter cannabis retail must ensure accounting best practices are in place. With the national cannabis industry continuing to grow, any retail business selling cannabis products should always prioritize their long-term financial sustainability, and how to build a.. READ MORE »
Within the cannabis industry, there can, from time to time, be an unfortunate stigma that it is a less formal or disciplined industry. On the contrary, the cannabis industry thrives on organization, attention to detail, vigilance, and professionalism. Newer industries face frequent changes, and in the case of cannabis, this is even more the case. Because of the frequency of change in this young industry, employees need to be on the ball and ready to deal with unexpected challenges. The laid-back perception that sometimes exists of the field wouldn’t be able to satisfy this need. It’s important for workers in.. READ MORE »
The cannabis industry is growing in Canada. With the next wave of legalization set for October 2019, edibles, topicals, and extracts will be available to consumers. Canada has a leadership position in the cannabis sector, with the next stage of legalization projected to create a consumer market worth $2.5 billion per year. Edibles alone are expected to be worth approximately $1.6 billion per year, with cannabis-infused beverages projected to bring in $529 million annually. Read on to learn how the cannabis industry is giving Canada’s economy a boost! Canada’s Industry Has Many Key Advantages Over Other Markets Canada has some.. READ MORE »
When recreational cannabis was legalized across Canada in October, many people predicted that products high in tetrahydrocannabinol (THC)—the compound that causes users to get “high”—would be especially popular. However, since legalization a surprising trend has emerged: cannabidiol (CBD) products have been flying off of store shelves much faster than THC products. CBD products are largely non-psychoactive, meaning they don’t cause a “high.” Yet stores are struggling to keep their CBD products in stock. So why has CBD become so popular? Check out some of the reasons below if you’re considering a career in cannabis. 1. Those with a Cannabis Dispensary.. READ MORE »
If you’ve been following Canada’s cannabis legalization, you might have heard about issues that stores have been having with shortages. In fact, you may even be considering applying for a cannabis dispensary licence but are waiting until these shortages subside before taking the leap. That hesitation is understandable, but the good news is that there is reason to believe that cannabis shortages may soon be a thing of the past. With companies ramping up production, new opportunities could become available. Increase in Production Capacity Could Help Address Supply Issues Legal cannabis is still a very new industry, so it’s not.. READ MORE »
Do you dream of running your own cannabis dispensary? Check out these four key points that anyone who wants to open a cannabis dispensary should know about.