Why Are So Many California Cannabis Companies Switching To Hemp Products?
California’s cannabis companies are abandoning the weed market in favor of the less regulated hemp sector. High taxes, extensive regulations and limited market reach are the main motives. As the California cannabis market becomes increasingly complex even for farmers, companies like Green Bee Botanicals have already rebranded their cannabis products to hemp, where they find fewer obstacles. So, what’s going on?
From Strictly Regulated Cannabis To Barely Regulated Hemp
Kim Howard, the founder of Green Bee Botanicals, made the switch after struggling for six years in the cannabis market. “Rather than the thorny obstacles we’ve had to crawl through [in California’s marijuana industry], it’s like being in a regular market,” she said in an article by Lester Black at SFGate.
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For many companies, moving into the hemp market offers clear advantages. Hemp businesses face lower taxes, fewer regulations, and the ability to sell products online and across state lines. Bridget May, Howard’s business partner, emphasized the difference, saying the hemp industry is “like …