The Benzinga Cannabis Capital Conference recently hosted a panel discussion on financial innovation in the cannabis industry, featuring industry experts who shared valuable insights on how to enhance and sustain cannabis businesses.
The panel, moderated by Katie Catanese partner at Foley & Lardner, comprised of panelists Michael Brewer, director at Strategic Tax Planning, Liesl Bernard, founder & CEO of CannabizTeam, Tiffany Richardson, partner (National Cannabis Industry Lead) at Crowe LLP, Robert Hoban, chair, Cannabis Industry Group at Clark Hill.
Structuring a Cannabis Business for Success
One crucial aspect discussed was the importance of structuring a cannabis business correctly from the outset.
"(...) It's really about creating the right structure of leadership, the right structure for your business, from a tax perspective, and that's across operational risk management, and financial compliance," said Michael Brewer.
- Moreover, Brewer emphasized that while the cannabis industry shares some similarities with other retail sectors, it also possesses unique complexities that demand careful consideration.
- Choosing the right business structure, ...