Top Ten Business Benefits of Legalization

In their June edition, Sativa Magazine took an in-depth look at the effects of legalization on businesses with their article The Top Ten Business Benefits of Legalization.

Some of the entries are a bit surprising, but all highlight a different aspect of why legalization is so important for the green rush:

10) Enables gangapreneurs to undercut criminals and violent organizations. The face of the cannabis industry would clearly change as not all your neighborhood pot dealers are going to try and compete in a legal cannabis industry. But still, no longer would people be criminals just for meeting the demand of consumers looking for some herb.

9) Fewer tax dollars wasted on the failed war on drugs. The U.S. government spends an estimated 8.7 billion dollars a year trying to enforce marijuana prohibition but the herb continues to be available all across the country.

8) Abolishes a legalized trade deficit. Banning domestic commercial hemp production forces businesses creating hemp product to buy hemp oversees. Between the high shipping costs due to the density of the plant and the complex bureaucratic nature of the plant, imported hemp is expensive. So not only are we depriving farmers of income from a lucrative crop and driving up the costs of hemp products.

7) Revolutionize the economy. Just allowing for hemp production alone could revitalize our economy, but add in all the economic growth associated with medicinal and recreational use of cannabis and the impact would be revolutionary.

6) Stop the damaging discrimination against cannabusinesses by national banks discussed in this post.

5) Venturing higher with new capital sources. Investors are scared to put capital into businesses when the feds could step in at any time and shut down the company. Legalization would encourage the creation of new investment groups similar to the Archview Group. Access to capital spurs economic growth and industry innovation.

4) No more mooching by Uncle Sam. The stories of individuals and businesses having assets seized by our government are far too common. One can only speculate how much this constant fear prevents personal investment in cannabusinesses. Legalization would end this legalized thievery.

3) Increase the transparency of a previously smoky market. Anything goes on the black market. No one is looking out for consumers. Legalization would increase oversight and allow for more transparency as cannabis conscious could openly compare and critique cannabusinesses. This trend has already begun with the creation of sites like Leafly and media sources dedicated to following and reporting on options for local medical marijuana patients.

2) Reduce the outrageous tax burden the IRS currently uses to stunt cannabis industry growth by securing standard tax rights from the IRS.

1) Job creation. All of the above would spur growth within the cannabis industry creating jobs, much needed jobs for people all across America.