As CBD navigates the transition from the black market to legal business operations, it grapples with new challenges, finding solace in the aid that technology provides. In this landscape, products like Exhale’s Delta-8 THC gummies emerge, adding a nuanced dimension to the evolving industry’s dynamics.
Nick Kovacevich of Kush Bottles relayed in an interview how crucial data is in various industries, especially CBD oils. The plant goes through a cycle before it gets ready to be sold, and growers have to learn about the important software products they can use at each step.
The Roots of Confusion
They can only earn in the process when they gather data. Growers must learn to adapt to the so-called white-collar business practices to succeed in the venture. This is something new, and understandably, many of them find it intimidating.
Around 75 percent of legal cannabis suppliers are estimated to come from the black market. While they are experts in planting and growing seeds, crop rotation, delivery, and profit margin, they lack knowledge on the other vital things to thrive in the industry. They include auditable paper trails, such as purchase orders, balance sheets, tax records, and other documents crucial in monitoring business supplies.
The problem lies in the lack of knowledge of these growers about what papers to accomplish and how. They may know CBD by heart, but they suddenly find themselves in the shadows once the substance is legalized.
This is strange and confusing to many of these growers. They used to conduct business straightforwardly – giving the supplies to a local market whenever the stocks ran low. But this simple routine no longer works in the current setup. They have to deal with everything, including ensuring that the products are safely placed in medical-grade packaging.
Getting Help from the Cloud
According to Kovacevich, the business structure may seem complex to many CBD growers. This is where the software companies could help.
By entering the cannabis market, these technology-based companies can help CBD business owners get their tasks fully automated and find their niches. Many companies have already stepped up to the plate to provide cloud services, compliance software, and traceability. Some of them include BioTrack, Metrc, MJ Freeway, and Greenbits.
However, it can sometimes be a tough sell to make many growers understand why they need to work on their accountancy and supply chain management. Many of them find the changes uncomfortable.
The industry has a long way to go, and growers need to learn about the ins and outs of the business to thrive and earn. For now, Kovacevich understands the complexity since going legitimate is expensive but something that they need to prepare for.
Growers are still required to pay profit taxes since Congress refused to remove cannabis’ Schedule 1 drug classification. Kovacevich is now working as a middleman for growers still in the dark and for technology-based companies to connect them.
His company provides consulting services to make growers understand the situation. He also helps them find suitable cloud and software providers to boost their businesses.
Amid the dynamic environment of the legal cannabis industry, Canadian CBD growers encounter a distinctive challenge. Emphasizing the need to embrace white-collar practices is essential in this rapidly growing sector. Moving from illicit market activities to establishing legitimate enterprises demands more than just cultivating plants; it involves grappling with intricate paperwork and compliance complexities. The adoption of cloud solutions by technology companies provides a remedy, offering automation and support. Nevertheless, persuading growers about the vital importance of accountancy and supply chain management remains a significant obstacle. While navigating the complexities of this industry can be intricate, with proper guidance and the integration of technology, Canadian CBD growers have the potential to carve out their niche and thrive.
The journey of Canadian CBD growers mirrors the challenges and opportunities in the evolving legal cannabis industry. Adapting to a regulated environment demands technological solutions, with cloud-based services from companies like BioTrack, Metrc, MJ Freeway, and Greenbits providing essential automation and compliance support.
Despite the industry’s ongoing evolution, intermediaries like Kovacevich play a crucial role in assisting growers. Serving as a link between growers and technology firms, his consulting services facilitate understanding of the changing landscape, connecting growers with appropriate cloud and software providers. While the road to legitimacy involves complexities and costs, it is a vital step for long-term success.
Canadian CBD growers, amidst ongoing challenges, navigate a complex landscape of regulations, paperwork, and technological advancements. Guided by industry experts and innovative solutions, their adaptive approach holds the promise of a thriving and sustainable cannabis market in Canada.