29 Aug Information about CBD crowd funding
As cannabis is being legalized in almost all states, the need for better and more fun cannabis products are in demand by users. The sad news is that the people who have ideas for new products rarely get funding from big corporations as they are still quite uptight in their values. It is a struggle for the start ups to get money to start production and manufacture of CBD edibles, cannabis smoking products and other items. This is where crowd funding comes in. In recent years several promising individuals have been able to establish a business thanks to crowd funding. The process is pretty simple. On crowd funding platform one has to put out their products and all the details and ask the general public to fund them. CBD crowd funding is also becoming a reality with cannabis users wanting better technology and putting their money behind start ups.
Does it work?
Crowd funding as an idea has worked over the years for many small businesses who require a starting capital and ask people to fund them. Technically the idea of CBD crowd funding does not seem far fetched, there are many users who would like better products. Instead of having to secretly buy from teenagers and hobos who never promise good quality, it is always better if you can choose from many options to ensure the stuff is good. A variety of CBD edible selling stores and bakeries have come up where you can buy a CBD gummy bear or some fancy cheese rosemary crackers to get a hit. But when it comes to tech there is a serious lack.
Since there is still so much stigma around marijuana, finding people who will help you in the financial venture is difficult. You need legal and financial aid if you want to crowd fund and most banks and lawyers are not open to having marijuana dealers as clients. Sometimes the crowd funding platform refuses to put up your account on their website. Given how many states still consider marijuana illegal many people are hesitant in making an online donation to your fund as it might show up in their bank statements. You too might be putting yourself at risk declaring your business online.
There is hope still, since laws are being revised trying to accommodate the states that have declared cannabis legal. Many law firms are specializing themselves to be able to accept marijuana sellers as their clientele. The CBD industry has seen a boost in financing last year with more CBD crowd funding pouring in for start ups. Laws are being made that would help gain investors from big companies. It is important to get yourself a lawyer who is familiar with the legal laws around CBD to help navigate you through the sticky legal system. First try the crowd funding out in the state you live in, then reach out to other legal states. Things are changing and we hope that some good tech will be pouring in beyond CBD edibles.