Page 20 - Magazine Spring 2019

Ancillary business. Investment. Jobs.
Perhaps Ron is not interested in running a cannabis farm, or processing or retailing, which requires substantial investment, sophisticated understanding of regulatory compliance, and facing heavy government enforcement. Instead, Ron may want to support the cannabis industry through tailored
ancillary work.
If Ron was in the business of providing bookkeeping and accounting services, marketing, business development, financial investment advisor, law, tourism, education and training, logistics, and the lists goes on and on, Ron would like to take a look at cannabis and see
where his services fit.
If Ron was more of the investment type, another option is to purchase shares in publicly traded cannabis corporations.
Ron should consider
that as a new industry, financial advisors may not have enough information
yet to prudently assess the sustainability of the cannabis capital market.
And if Ron liked none of the above, there is always opportunities to develop a new skill and have a part time job or an additional business. Colleges and universities rolled out a group of courses and programs for commercial cannabis production, such as management, quality control and laboratory. Ron may be the next director of cultivation, budtender, dispensary manager, director of extraction, trimmer or retail sales and lounge associate.
Did you miss the train?
“Cannabis:$8Billion”seemstobejuststarting. Newproducts will become legal in Canada from October 17, 2019. These products include commercially-produced edibles, beverages, concentrates, vape pens, oral sprays. Ron will not be able to
commercialize these products because they will be sold in government stores or heavily regulated private stores or a mix of both, depending on the province.
Also, the World Health Organization (WHO) recommended governments to take out cannabis
and cannabis oil
from dangerous
substances’ lists;
which would push
governments around
the world to think about
legalizing marihuana. The US
Federal Government may jump
in the legalization trend sooner rather than later, which would allow banks in that country to work in the cannabis industry.
By the time all this additional cannabis boom happens, our Ontario’s entrepreneur Ron Ciata already acquired experience in the cannabis industry and will be able to export services
around the world.
Three Don’ts for Ron
Ron does not drive impaired, does not work impaired, does not cross the
border (outbound or inbound) with cannabis, and he checks his local cannabis-
related regulations for more information. He also seeks accounting, legal, financial, business and other professional advice before starting any cannabis-related endeavour.
He actually found those professionals here, in the BEST Magazine.
Antonio F. Urdaneta
is a workplace
investigator,
compliance-coach
and lawyer. He
investigates and
advices entrepreneurs
about workplace
substance dependence management. He is an associate lawyer at Schible Law.
THE BEST MAGAZINE SPRING 2019
WWW.THEBESTGROUP.CA
20
N
E
-
T
R
E
P
S
R
S
E
E
N
E
N
U
I
R
S
U
S
B
-
-
M
S
A
E
E
T
R
-
s
V
I
C
E