In this week’s business column, industry leaders say the industry can no longer be both essential and illegal. While the immediate outlook is very challenging, they hope the pandemic will catalyze change:
“Taxes are high. Margins are low. Regulations are onerous. [In California] The illicit market is beating the legal one. Poor management and overspending have put many companies in jeopardy. This was all true before the pandemic struck, creating yet more uncertainty and fear.
“The state government’s declaration of cannabis as an “essential” business surely saved a lot of companies from going under. And an initial surge of sales provided some relief. But the situation is still bad.”