Cannabis company compliance is a critical aspect of every cannabis business from seed to sale. However, unstandardized and unstable cannabis regulations make it difficult for companies to maintain compliance. States have different requirements, guidelines, and procedures for cannabis growing, handling, and transportation. The absolute nightmare with these regulations comes in when a business or operator is found in violation. Consequences of non-compliance include license forfeiture, short-term loss of business, or huge fines.
Top Cannabis Compliance Complaints
Time-Consuming With Little Returns
Apart from keeping a company’s licensure compliant, the Marijuana law compliance process is time-consuming, resulting in little or no business value. The time spent to make the business compliant eats away when used to meet your business goals.
There is no standardized rule in the U.S. for cannabis compliance. The state and the municipality where a business is located have different regulatory frameworks ranging from standards and laws to licensing requirements. It would help if you also observed regulations such as the Federal Communication Commission (FCC) and the Health Insurance Portability and Accountability Act (HIPPA).
The cannabis compliance and regulations layers at different levels, including federal, state, and municipality. The regulations are often complicated and confusing. They are even more challenging to follow due to constant changes. To achieve marijuana business compliance, it must follow all the rules, laws, and regulations.
Unstable Reporting Tools
Local municipalities and the state require a licensed business to keep certain types of documentation. Failure to do so may result in costly penalties. It would be best to make sure all documents are current and each item has the required information.
How to Overcome the Compliance Nightmare
The following should help you mitigate the chances of putting your business at risk due to non-compliance.
- Educate yourself to understand the reasons behind the laws and regulations. Empower your business to stay current despite the ever-changing regulations by:
- Monitoring websites of relevant agencies regularly
- Reading regulatory blogs and newsletters
- Staying abreast of the industry trends and participating in webinars and training
- Keep up with regulations for each layer of compliance in the municipality or state so that nothing escapes your knowledge.
- Build and maintain open communication with agencies in your locality or state. Ask the agencies what available resources are there for your business and what you can do to be compliant.
- Avoid hefty fines due to lack of documentation. Also, ensure all your items are up to date and all the necessary information is made available.
Why Hire Us
Maintaining cannabis compliance is essential for your reputation and licensure. Our team has the experience and skills to help you avoid being fined or banned from the cannabis industry because of non-compliance with local and state regulations. Compliance cannot be accomplished by a single transaction but by a chain of steps and actions.
Our cannabis consulting team has the expertise to plan and carry out applications at the municipal and state level to ensure accuracy in the application process and speed up the licensing process.
Please contact M Consulting Experts for the best cannabis consulting services:
Costa Mesa CA 92626