In light of cannabis’ potential federal reclassification under the Controlled Substances Act, BudsFeed has partnered with Cannabis NewsHub to chat with successful leaders in the cannabis sector to weigh in on the following question:
“If cannabis is reclassified as a Schedule III drug, Section 280E would no longer apply. What advice would you offer cannabis businesses to maximize the potential advantages of this change?”
You can check out the full collection of responses on Cannabis NewsHub here.
Jill Ellsworth, Founder & CEO of Willow Industries
With the removal of 280E, we will see an increase in available cash flow in the cultivation sector, which will allow operators to move forward with capital expenditures they had previously postponed due to financial constraints. Most businesses will be forward-looking and focus their immediate efforts on establishing strategies and programs that will set them up for long term success, no matter what the future regulatory and compliance landscape could look like. Whether it be technology, equipment, or staffing, they need to ask themselves what the most stringent regulations are that could come in the future, like GMP, and how they should prepare to establish the best practices.
SOURCE: BudsFeed