To quote Larry Kudlow: Free market capitalism is the best path to prosperity! Matters of business and free enterprise are discussed on this blog. Included are company press releases, 3rd party news articles and videos, articles and videos pertaining to small business, and white collar crime.
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Thursday, October 20, 2016
The Marijuana Industry is Booming - Even Without Banks (Watch)
The marijuana industry is booming in states like Colorado, where recreational use is legal. And as more states consider legalizing marijuana use, the industry is likely to continue growing.
But jumping into this booming industry isn’t easy. Since marijuana use is still illegal on a federal level, banks are wary of working with marijuana companies. So businesses have had to make a lot of financial adjustments. Many deal mainly in cash and even have to hire armed security to safeguard their finances, since they can’t keep business accounts at most banks.