You must have witnessed, if not participated in a discussion that revolved around cannabis and hemp products recently. These discussions are happening all around us, and they’re only going to get harder to avoid, as more and more states are starting the process of legalizing marijuana for medicinal and even recreational purposes.
That’s why we’ve decided to touch upon a theme that doesn’t get as much recognition as it should – startups that are based in the cannabis industry. These young companies strive to become a big part of a relatively new business domain, and we’ll be going into the hows and whys of the cannabis startup businesses.
The Cannabis Industry Today
As different parts of the world still have different viewpoints, laws, and regulations regarding cannabis, the industry and the chances to participate in it wholly depend on where you live. While countries like Canada, the Netherlands, and some US states have legalized possession and even growing cannabis, the rest of the world is either still strictly regulating it or has all of it completely illegal, even for medicinal purposes.
But in those countries that have opened the way for a whole new industry to grow, it has been obvious that they have benefited from legalization in the financial sense. It is predicted that this industry will continue to grow and bring in even more revenue, as this study suggests.
But to keep the focus on what the industry is today, there is no doubt that it is already blooming with new businesses and jobs popping out every day. These startups offer quality products and are very often local, family-owned businesses you can support just by getting your CBD or marijuana products from their shops, online or not.
Technology That Helps It Grow
Now, there is one factor that this industry has on its side that almost none other had at their conception – the internet. The internet has been a medium that not only served the industry well as an informative and marketing tool or the gateway SEO for cannabis. It also presented the manufacturers the option of opening up online stores, which bring along many benefits.
Even further, with the range and expanse of the web, opportunities have arisen for people to start their businesses – startups, and promote their services and products to an astounding number of potential customers. Cannabis SEO Case Study helps to promote your cannabis business and help get a variety of backlinks as per your preferences.
We should also mention that the internet isn’t only informative for the buyer but also for the manufacturer.
There are now so many websites and blogs that deal with the cultivation and care for cannabis. They can utilize that knowledge and work to improve their products to benefit the customers, and of course, their pockets.
Why Startups Are Important
The demand for legally grown and sold cannabis is on the rise, and it will probably continue growing in the years to come. This increases the possibility of manufacturers being funded by big companies and small, local businesses looking for a chance of success.
Of course, production isn’t the only branch that the cannabis industry touches upon; it ranges from cultivation to retail and marketing, and even scientific research. This means that new jobs are being created, and they need to be filled fast to supply enough services and products to the public.
This is where startups come into play, not big companies with federal funding, but local businesses, either as shops and farms, or virtually, as online platforms that serve to inform about the possible benefits of hemp products like CBD, which you can read more about here.
Predictions for the Future of Cannabis
While more and more countries are expected to take a step forward in the legalization of marijuana for recreational use, many are already moving towards or have instituted medicinal cannabis as the first step towards that.
That means that, in the following years, we can expect a considerable number of new jobs and companies opening up to fill the boots of the cannabis industry that are for now sitting empty.
In any case, the predictions are unanimous. The industry will keep growing, and aside from startups, more and more investors will be joining in, possibly even large corporations, as this study implies. That goes for both the production of cannabis and the research and development of platforms that will make it available to get on-demand.
All in all, we can conclude that investing in the industry or starting up your own business as soon as the opportunity arises is most likely a smart course of action.
Startups will play a significant role in the early stages of developing the industry that countries Canada and the US are in right now, and the rest of the world, which is expected to follow in those steps soon.
Not a single person can predict what the future holds, but given everything stated above, it is safe to assume that the Cannabis industry will grow at a steady pace. And, with current advancements in technology, the options seem to be limitless.