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Strong state legalization trends continue for marijuana, for both medical and recreational use. The market is massive – and growing – as marijuana-related businesses (MRBs) generate ever-increasing revenues. Nationwide, the market was $10 billion in 2018 and is poised to reach over $23 billion by 2022.
But where does the money go? Although federal enforcement has decreased for sale and use, federal laws prevent MRBs from using the same banking channels that are routine for other industries. And the government still enforces anti-money laundering, securities, and tax laws.
Savvy MRBs – and organizations that work with or advise them – will keep their fingers on the pulse of developing solutions. Understanding current regulations, alternative payment options, and where banking is going are critical first steps in evaluating whether investing/selling into the marijuana space makes good business sense for your organization.
Our assessment provides insight into the considerations that organizations should be aware of early in the decision process to offer products or services that support marijuana production, distribution, or sales. The key is educating leadership on the state of the banking industry and nuances to be aware of to successfully navigate the challenges.
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Another benefit of pre-existing research is that you can access it immediately. Our syndicated reports are available for download immediately after purchasing. We’ve already completed all of the necessary research and analysis, which saves your team valuable time. That means you can get back to doing what you do best — running your business.
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Through thorough market research and in-depth analysis, our reports take the guesswork out of decision making. We provide actionable, data-driven insights that can prove incredibly valuable for your business — no matter what industry you are in.
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Proactive Worldwide is an international consulting firm with over two decades of experience providing in-depth primary research to clients all over the world spanning a broad array of industries. In addition to consulting services, we offer syndicated market research reports featuring invaluable primary research information obtained via our proprietary research techniques.
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