Saturday, April 20, 2024

A General Optimism at this Year’s MJBizCon

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MJBizCon just wrapped up for 2023, and there was a good amount of hopeful attitudes in the crowd, despite the pretty slow and rocky year for cannabis.

MJBizDaily posted a write up about the event, diving into some of the perspectives at the booths in Vegas.

“The best days are to come. There’s going to be a rising-tide-lifts-all-boats moment. I believe in that. If you don’t believe in that, you shouldn’t be in the industry,” Jesse Channon, chief commercial officer at The Cannabist Co., told MJBizDaily.

Overall, there’s a real sense that the SAFER Banking Act will finally pass the legislative deadlock in D.C., which would be a huge boost for business who need to deal with banks weary of getting into business with something that is federally illegal.

Also, this would bring down the frustrating Section 280E tax code cost.

There’s also the feeling that many markets have yet to mature, including New York’s huge potential. It’s taken years now to get it rolling, but action has come more and more frequently in the state in the recent months, with businesses finally starting to get permits granted.

“I don’t know what level of access in New York exists for us over the next 30 months, but I can tell you it’s more access, which means it’s good for us,” said Jesse Channon.

Finally, there’s a feeling of “adapt or die” in the air. We’ve seen big mergers in the last couple of years, and partnerships are looking more and more attractive to those struggling on their own.

MJBizDaily spoke with a new company THC Design, who has this exact outlook when attending the conference in Vegas.

“Our biggest goal here is to start to network with a lot of our peers. It’s obviously been a tough few years for the industry in general,” said Marlon Coburn, president of THC Design.

Since these businesses have made it through the storm, there’s one way from here, and that’s upward.

Read the original piece at MJBizDaily.

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