The Booming Cannabis Entrepreneurship

By Staff Writer

Mar 27, 2016 06:16 AM EDT

Not all parts of the world are in favor of weed especially for leisure marijuana. As for them, it is still considered illicit like the coke.  Whether the people like it or not, pot is hot and there are signs that the marijuana business is getting a boost while other industries shutdown and file bankruptcy such as oil and coal industries.

According to the Aspen Times, weed has surpassed the sale of liquors last year for a couple of months from March to April. March, which is also the spring break, recorded a sales total of $998,000 which is the highest in a year.

The marijuana industry is drawing new type of celebrities that made a name for themselves being accomplished in their needs. Mindy Segal is the owner of Mindy's Hot Chocolate in Chicago, author of the cookbook "Cookie Love" and is now working with Cresco Labs to manufacture a line of marijuana-infused sweets such as chocolate brittle bars, granola bites and ready-made cakes to name a few.

Based on the US Border Patrol, confiscation of cannabis along the Mexican border declined. The domestic pot production is damaging the Mexican Cartels.

Legalizing the marijuana industry could generate $44 billion economic impact by the year 2020, according to the 2016 Marijuana Business Factbook published by Marijuana Business Daily, based on the MSN report.

Since Illinois first medical cannabis dispensaries operation after six months, some entrepreneurs and analysts believe it is.  Their worries stem from the truth those only 5,000 state residents have registry cards.  This is a big reason for the small number of centers on Gov. Bruce Rauner's rejection to widen the list of 39 original qualifying medical conditions enabling patients to acquire the cannabis cards, as reported by Belleville News-Democrat.

California is the first state to legalize marijuana use for medical purposes. A total of 23 states legalized its medicinal use with New York as being the latest. And another state is catching up with the list - Pennsylvania.

Meanwhile, Pennsylvania House of Representatives approved Senate Bill 3 earlier this month, seeks to legalize medical weed in liquid, pill and oil formulations, with a vote of 149-43.  Similar to other medical-marijuana enterprise, Pennsylvania's law would restrict the number of growers and dispensaries in the state and will generate tax revenue and licensing fees with it, the Motley Fool reported.

Marijuana, legal or not legal, is still abundant in the black market.  Whether being used for leisure or for medicinal purposes, it is still being seen and considered as illegal.  However, with the declining economy of some states, others resort to the said business hoping that it could lessen their country's problem and generate income for themselves.

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