Business

7 Areas Government Policies Could Affect the CBD Industry

The growth of the legal hemp industry has spun a new market with less legal bottlenecks. Short for Cannabidiol, CBD is a byproduct of the industrial cannabis plant that does not contain the THC, the cannabis property that gets consumers high. With a reported growth projection of $22 billion by 2022, the CBD industry is too big to sniff at. Everyone is interested in taking a bite of it. Analysts have called it the next gold rush, and it’s proving to be one. And the government is not looking away from it. In fact, in America, like in many other advanced countries, the government is deeply interested in the CBD industry. With the US government highly invested in the control of the CBD industry, expect to see policies impact its growth over time. Preparing towards these impacts can help the true entrepreneur better navigate the challenges the CBD industry will pose and build a thriving business out of it. 1. Distribution Even though the 2018 Farm Bill passed by President Trump legalizes the use and sale of CBD across all 50 states, the distribution of cannabis products is still under serious restrictions. FDA Commissioner Scott Gottlieb, M.D., on signing of…

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Business

A Concise Explanation of The Startup Accelerator Program

Entrepreneurs with a startup idea have always found it hard to get their feet off the ground. Mainly, the difficulty lies in getting the initial and adequate funding you need to spring up and spending it in the right way to elicit growth. Well, with startup accelerator programs, there’s a way for entrepreneurs to scale their business in a short period. The concept is relatively easy to understand; you apply for these programs, and then you go on a 3-month intensive program with the aim of developing as an entrepreneur and learning how to grow your company. If you were taken in by that, it was just the tip of the iceberg. The juice is that successful applicants receive something called ‘seed money’ to invest in their business – in return for equity. On average, you can get anywhere between $20-50,000 investment from these programs, so it’s well worth looking into. As of right now, there are 186 startup accelerators in North America, with 3,296 businesses receiving investment through them. This amounts to approximately $107.3 million! In truth, the hope of investment is what attracts most entrepreneurs to these programs, but you get so much more than that. Once accepted,…

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Business

How to Get a Big Chunk of The CBD Largesse

Cannabidiol (CBD) is the rave now and expectedly so since any industry that can rake in a projected $23 billion by the year 2025, is more than worth having a crack at. The recent global interest on CBD stemmed from the signing of the 2018 Farm Bill into law by President Trump in December. That singular act of President Trump has sent the hemp industry into an economic frenzy of a mammoth dimension. Over 25,000 products which include automotive parts, construction materials, food and beverages, furniture, cosmetics, and the textiles are hemp-based. Why all the fuss? The 2018 Farm Bill empowers you to cultivate hemp broadly, not like the 2014 Farm Bill that permitted cultivation for simply pilot programs for studying market interest in hemp-derived products. It expressly permits the transportation of hemp-derived products across state lines for commercial or other purposes. The hitherto restrictions placed on the sale, transport, or possession of hemp-derived products have been removed, provided you produce the items according to the manner stated in the law. This is a golden opportunity, a once in a lifetime chance you can’t allow to fritter away. The slot is open for all comers — corporations and individuals, and…

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Business

Untainted Credibility Will Remarkably Boost Your ROI

Untainted credibility of your brand is the magic wand, the game changer, the launch pad, and the competitive marker your brand needs to hold sway in the overwhelming competitive market. For you to scale through and make the necessary impact in today’s market, you must work assiduously on any factor that will give you a competitive advantage. You need leverage whatever good points you may have to boost your ROI. After the overhead and other sundry expenses, investors won’t be avast to smiling to the bank. Your credibility at the core is the sum total of your brand’s goodwill, the personification of your reputation, and the gate crasher to the market. It determines how people regard your product or service. The leads your brand generates and conversions made depend entirely on your credibility and it takes hard work to build one. You should jealously guard and nurture any credibility you must have built because it’s your blank cheque. Research from Statua Labs found out that, 85% of consumers trust online reviews as much as personal recommendations Peers are now considered to be as credible as experts. Positive reviews make 73% of consumers trust a local business more 64% trust online…

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Business

Outsourcing: The good, the bad, and the ugly

The competition experienced in the global market has tuned up brands to do everything possible to come up with products and services of sterling qualities. To this end, a lot of brands resort to outsourcing in order to fill up gaps that will enhance their competitive advantage. Outsourcing is all about brands hiring sources from outside the company to perform services or create products which ordinarily should have been done in-house by employees and staff of the company. Outsourcing was first recognized as a business strategy in 1989 and became an integral part of business economics throughout the 1990s. In the business world, outsourcing is subject to considerable controversy. A group, especially in the manufacturing sector argues that it has caused the loss of domestic jobs. Supporters say it creates an incentive for businesses and companies to allocate resources where they are most effective, and that outsourcing helps maintain the nature of free market economies on a global scale. The good There are a whole lot of reasons why you may decide to embark on outsourcing some certain tasks in your company. It can help you to reduce labor costs significantly by avoiding expenses associated with overhead. You also have…

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Business

Why You Need The New Face of Retail

A few years back, the determinants in retail success have basically been location, store design, and curb appeal, with most of them completely relegating to the background any insight to the changing customer behavior. The retail apocalypse has, however, necessitated the new face of retail. According to the Statista, The fact that the ongoing rise of e-commerce in the United States is hurting brick-and-mortar stores is undisputed. Two corporations that filed for Chapter 11 bankruptcy protection in October 2018, are retail giant Sears and Mattress Firm. Despite reducing assets and selling real estate over the years, Sears was unable to pay off $134M worth of debt. Sears Holdings, the parent company of Sears and Kmart, said it plans to keep profitable stores running. By the end of 2018, the company is looking to shutter at least 188 stores. The latest list of store closures includes 45 Kmart locations and 18 Sears boxes. Mattress Firm, on the other hand, said it would shutter 200 underperforming locations right away, and look to potentially close 700 stores altogether over the next few months. In conjunction with its prepackaged restructuring plan, it received commitments for about $250M to help support ongoing operations during the…

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