A PEEK INTO THE INSIDE

For those who may be interested, I am taking a business in cannabis course. I would like to share with you what I am learning and some of my work on the subject.

The risks of owning or operating a cannabis business (especially a plant-touching business) are unlike the risks and challenges of most other businesses in most other industries. While the U.S. Justice Department has (mostly) retained a policy of non-interference, cannabis remains a Schedule I drug at the federal level and possession and distribution are federal crimes under the Controlled Substances Act (CSA).

Consequently, cannabis businesses might have to run their operations with no access to banking, with no point-of-sales software, no credit lines. Furthermore, business owners and investors must interpret the memorandums written by the U.S. Department of Justice to assess the current risk.

“Optimism Amidst the Chaos” sums up the current state of the cannabis industry perfectly! (Davenport, 2019).

As someone who holds a medical license, I must always be thinking about the risks that I am taking to one, keep my patients safe and two, protect my license. I was very hesitant to start certifying patients to use medical marijuana initially, as many providers still are. First, I never received any formal training in nursing school regarding cannabis therapy. Second, what is the liability if someone has a bad outcome related to the cannabis? If something does happen, will I be able to find a lawyer that will protect me and even knows cannabis law?

I was able to answer these questions, or at least feel more confident with educating myself on cannabis. As far as how stigma and uncertainty of cannabis affect my personal life, I still am careful about who I talk about it with. For example, I was at a dinner with the other room moms at my children’s school. When asked what I did for a living, I kept it vague. It does go through my mind, “maybe these moms won’t let their children over my house if they know I am associated with marijuana..” I also have to be careful about how I word what I do to my own children. I have found myself in situations where my child asks “what are drugs?” Historically one may have immediately said “weed”… That is no longer the case. I have explained to my children about plant medicine, etc. However, I am still very careful about teaching them about “drugs” and the “bad stuff” as well. Being “pro-marijuana” does feel unnatural, as we were all raised to believe it was bad and can cause us to go to jail.

As stated in the clip, “Why starting a marijuana business is so hard”, each state has free reign on the laws for marijuana (2023). This has made navigating this industry extremely difficult. In healthcare, there are many things to consider. First, each state can also develop their own laws about a medical license (including nursing) and who can certify patients to use medical marijuana. Some states allow (and even require!) health care professionals to work inside a dispensary, other states do not. Some states require patients to recertify for a medical card every year, other states go 2 years. The fees providers charge for the medical exam are unregulated. As I watched the video, these fluctuations in laws amongst the states affect every level, down to the label and type of “THC” stamp that goes on the products.

Standardizing the laws would streamline this industry. I can’t even imagine how much time is wasted spent discussing all of this with lawyers due to fear of getting in trouble. I have spent my fair share of time!

When I first started my practice, I applied and received a $10,000 grant for legal fees from the women’s business development council (https://ctwbdc.org/). I requested consent forms to be developed for my practice regarding medical marijuana. I did get the documents, and that was it! The whole grant was spent in a week! I am incredibly blessed and lucky, but my point is how expensive everything in the industry is because of the obscurity in the laws and fear of liability.

This is a good summary video: Why Starting A Marijuana Business Is So Hard. Business Insider. 

Resources

Big Business. (2021, August 29). Why starting a marijuana business is so hard | big business. Why Starting A Marijuana Business Is So Hard. Retrieved May 3, 2023, from https://www.youtube.com/watch?v=oKgaOYH4-rs

Davenport, Danielle. Chapter 3, section Cannabusiness and banks: FinCen, the Cole memo, and Jeff Session’s repeal

Homepage. Women’s Business Development Council. (2023, May 1). Retrieved May 3, 2023, from https://ctwbdc.org/