For those cannabis entrepreneurs wishing that the lengthly licensing process and long wait times to hear from the Massachusetts Cannabis Control Commission on their applications would find a remedy, a small one may be on the horizon regarding wait times for licensing.
“To address one of the loudest and most frequent complaints from prospective cannabis entrepreneurs, marijuana regulators want to cut the wait time for a license in half in the next budget year, the chairman of the Cannabis Control Commission told state lawmakers Monday.
The average wait time for initial license review by the commission is 121 days. The agency told the Joint Ways and Means Committee at a budget hearing that it wants to hire additional staff to drive the average wait time down to 60 days in fiscal 2021.“
For the legions of small and craft businesses in the legal cannabis industry working to get off the ground here in the Bay State, this is good news if met with a bit of trepidation. Those scarred from the current landscape of licensing and approvals through the CCC will no doubt hear such information and offer pursed lips. But the fact that the CCC is making an effort is a small win for entrepreneurs that have been struggling with the early parts of the application process only to see a long wait time on the horizon is a positive indicator, and a reminder that the local commercial side of the legal industry is still just getting started.
For investors seeking tips, tricks, or access points to smart private placement investing in legal cannabis, the market is more ripe than ever. Besides the recent 2020 Jobs Report put out by Leafly, which noted that Massachusetts now has more legal cannabis workers than hair stylists and cosmetologists, on top of the record cannabis sales in Colorado that puts a new spotlight on the rising sales here in Massachusetts with a sliver of the number of open retail shops here at home, the news about the faster licensing times should be a welcome one.
Just last week, Cannapreneur Partners CEO Michael Scott led a webinar presentation with The Entrust Group, teaching investors and financial services professionals key ways to employ Self-Directed IRA capital into cannabis investments for full utilization of one’s investment portfolio.
If you’re an accredited investor looking for private placement opportunities in the legal cannabis space, visit www.cannpreneurpartners.com or email us today at firstname.lastname@example.org to learn how you or your investing group and investor syndicates can access a stream of vetted cannabis investment opportunities from retail and cultivation, to tech, ancillary services, debt lending, real estate, and other deal flow opportunities through Cannapreneur Partners.
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