TAP’s Industry Expertise Can Guide Business Owners Through the Changing Landscape.
(MIAMI, Fla., July 12, 2022) – Cannabis is forecast to be a $60 billion industry by the end of the decade and entrepreneurs are anxious to claim their share, but that doesn’t mean current and prospective business owners won’t face considerable challenges along the way.
To date, 38 states and the District of Columbia have legalized recreational and/or medicinal marijuana, but the federal government still classifies pot as a ‘dangerous substance’ and it’s unclear when that might change. A bill before the Senate, the Marijuana Opportunity and Reinvestment Expungement (MORE) Act, would make it legal to possess cannabis, but it has languished despite being passed by the House of Representatives in both 2020 and 2022.
Meanwhile, state regulations in the relatively new industry are onerous and the disconnect between states and the feds has made it difficult for many to obtain the capital required to set up or grow a cannabis-based business.
“It’s important that those already in or seeking entry to the cannabis industry affiliate with a firm that has experience, connections, and offers banking solutions,” said Al Razavi, a managing partner at TAP Financial Partners. “We’re one of the few that can offer a comprehensive set of services and is already positioned to help clients take the next steps.”
TAP, a privately-held, boutique merchant bank, offers financing options for those in its ecosystem, but also brings cannabis industry relationships that can move agendas forward. “Growers, sellers, and technology providers are all critically important to having success in this field and we bring that knowledge to what is a different business arena than most are used to,” said Razavi.
While the widespread legality of marijuana is debated in Washington, D.C., TAP is advising its cannabis clients to continue conducting operations safely and legally under the current guidelines in states where sales are legal. It is poised to assist several with funding, all of which is independent of whether the bills legislators ultimately see have loan provisions in them or not.
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TAP Financial Partners provides advisory, restructuring, debt and equity fundraising services, fulfillment, and up-listing advice to a select group of small and mid-sized enterprises. Its financial expertise and decades of collective experience position it to be a difference-maker for clients, no matter the assignment or mandate.
To learn more about services and impact, connect at www.tap-partners.com or info@tap-partners.com.
