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Risks and Rewards of Getting Into Business With Cannabis | 5.31.22
Manage episode 330260569 series 3262304
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The focus of this podcast has always been to take a look at recreational use cannabis as a legitimate business and industry. And the financial challenges are many. In our most recent episode (Season 4, Episode 5) we looked at the issues news businesses face securing loans and basic banking services when dealing with a product that is still considered federally illegal. We got a lot of response to that episode, and we want to share what we learned with you in this follow up. And for the most part, the news appears to be good for those trying to break into the industry in New Mexico. Hosts Andy Lyman and Megan Kamerick talk with Shannon Cox, Cannabis Program Executive with Southwest Capital Bank, about their ever-expanding approach to lending to cannabis businesses. We also learn more about risk management and insurance coverage for these businesses with Kenny Byrd, a risk Management Specialist. We even discuss workers compensation issues within this industry and what best practices seem to be when it comes to workplace accidents.
Also, we end with Andy updating us all on some of his most recent cannabis reporting, which you can find at the following links. We love your feedback and it really does inform us on which direction to pursue next. So, do us a favor and let us know what we missed, or what you'd like to hear more about in an upcoming episode of "Growing Forward."
NM collects $2.4 million in cannabis taxes for first month of sales
Some NM cannabis producers may face higher than expected tax bill
NM expected to pay an estimated $15 million in tax refunds to medical cannabis companies
Episode Music:
Christian Bjoerklund - "Hallon"
Podington Bear - "Good Times"
Sunsearcher - "Latin Rhythm"
Blue Dot Sessions - "Pastel de Nata"
Growing Forward Logo Created By:
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"Growing Forward" is a collaboration between New Mexico Political Report and New Mexico PBS.
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