by Confia Development | Jul 12, 2022 | Blog
Hemp is an immensely useful plant that’s utilized in a multitude of commercial products. Although it’s related to the marijuana plant and looks exactly like it, hemp contains little to no THC (tetrahydrocannabinol), the psychoactive compound that gets people high. Marijuana, on the other hand, contains higher levels of THC.While both plants contain CBD (cannabidiol), the hemp plant contains significantly monre than it’s counterpart. CBD doesn’t any psychoactive effects, making it a popular cannabinoid to extract for it’s medicinal properties and put into products like oils, edibles and other health and wellness products. There’s a growing body of scientific evidence to support the health benefits of hemp and CBD. So, if you’re looking to get involved in an industry with a lot of upside potential, consider starting a CBD business.
Before you get started, you may be wondering: what’s the legality status of CBD in 2022? Is selling CBD still profitable and which states have the highest demand? Where can a CBD dispensary open a proper commerce account? We’ll be answering these questions in the following article. Read on.
Is CBD legal in 2022?
Yes and no. Although industrial hemp is legal in 50 states due to its uses in manufacturing fibers, bioplastics, and various other products, the legality of CBD is still a gray area in many places due to it being derived from the cannabis plant.
In order to be fully legal in a state, CBD products must be legalized on both state and federal level. As of this writing, 17 states have legalized both recreational and medicinal cannabis, provided that the user is of legal age. These states are:
- Nevada
- Michigan
- Colorado
- Washington
- District of Columbia
- Vermont
- Massachusetts
- Virginia
- South Dakota
- Illinois
- Montana
- Arizona
- California
- New Jersey
- Oregon
- Maine
- Alaska
Which states consume the most CBD?
Online searches for CBD have been skyrocketing across the United States ever since the Farm Bills of 2014 and 2018 have paved the way for this particular cannabinoid. As of 2022, the terms cannabidiol, CBD, and CBD oil have been seen frequent searches from these states (in no particular order):
- Oregon
- New Mexico
- Pennsylvania
- Texas
- Tennessee
- Georgia
- Alabama
- Kansas
- Nevada
- Colorado
- North Carolina
- Mississippi
- Vermont
CBD product sales are at their highest in the western states (27%), with California and Colorado topping the chart. The Midwest is second at 18%, while the Northeast and the South hover around 15%.
Is owning a CBD store profitable?
The CBD industry is expected to keep growing. According to Forbes, the CBD market could reach $22 billion by the end of 2022. As the CBD industry matures and customers become more discerning, CBD stores and growers must focus on not only ensuring compliance with current and future regulations, but also building brand loyalty and finding their own unique niches.
CBD businesses need to establish financial systems before they can expand and succeed in the marketplace.
A common challenge CBD businesses face is finding banks or other financial institutions that will work with the cannabis industry. Establishing the necessary financial systems that will improve customer experience would help the CBD businesses flourish.
Where can I open a CBD dispensary commerce account?
At Confia, we supply CBD and other cannabis business operators with a complete suite of financial services they need to drive their businesses to success. Our services are specially designed to provide relief to 420 operators who have trouble obtaining the support they need from traditional institutions.Whether you’re in need of cash deposits, lending plans, legal compliance assistance, digital check deposits, B2B payments, secure digital payments, and so on, you can’t go wrong by partnering with us. Contact us today to explore the available membership options.
by Confia Development | Jul 12, 2022 | Blog
How to Grow Hemp: Quick Guide for CBD Cultivators
In the cannabis industry, hemp is grown primarily for its high CBD (cannabidiol) content, which is a non-psychoactive substance that is frequently used for its medicinal properties. As with other types of farming, careful planning and attention to detail is necessary in order to attain the desired results and maximize profits in today’s market.
In this article, we’ll provide a brief hemp-growing guide that will help you overcome some of the early challenges and ensure a bright future for your operation. We’ll also offer tips on how to find reliable commerce services for cannabis dispensaries, growing operations, and other 420 businesses. Read on.
How do I start farming hemp?
Since CBD is primarily found in hemp flowers, CBD farmers focus on growing only unfertilized female plants. Although cannabis plants have separate female and male parts, they can also be hermaphroditic, so farmers need to regularly check their fields and remove any male or hermaphrodite plants before they can fertilize the females.
Here’s a quick guide on how to grow hemp for CBD:
Step #1: Germinate your hemp seeds
Pre-soak the seeds for 8-12 hours and plant them 1-inch deep in a slightly dampened seed starting mix. Make sure to keep the temperatures between 65-70 degrees Fahrenheit. A great way to manage humidity is by using clear humidity domes.
Step #2: Help the seedlings grow
Keep the humidity in the 65-70% range and the temperatures at 68-77 degrees Fahrenheit. Use high-output T5 fluorescent grow lamps or LEDs to provide the germinated seeds with the correct amount of light and make sure the grow lights are on 18-24 hours per day.
Use a nitrogen-rich, water-soluble fertilizer that has a target 3:1:2 NPK ratio at one fourth of the recommended application strength. Keep misting or watering the seedlings in this way until they’re ready to be transplanted.
Step #3: Transplant the seedlings
After the seedlings have rooted all the way to the sides and bottom of the rooting plug or cell, they should be transplanted into a 4-5 inch container that uses a transplant mix. Once they’ve rooted to the sides and bottom of this container as well, transplant them to a fabric grow bag or a larger container that uses a heavier compost-based potting mix.
Step #4: Grow flowering hemp plants
Keep the temperatures in the 68-77 degree range and maintain 40-50% humidity. Minimize the risk of pests by keeping the air circulating and regularly venting your blackout cover or grow tent (if you use one).
Let the plants grow for 30-60 days before making them flower by altering the photoperiod to keep the plants in darkness for 12 hours a day. Be careful not to overwater your plants while they’re flowering and feed them weekly with a liquid fertilizer with a target NPK ratio of 1:3:4.
Who offers professional commerce services for CBD cultivators?
Confia specializes in providing dependable financial solutions to CBD cultivators and other cannabis operators. Our services include a complete selection of advisory and commerce services spread over a multitude of membership options.
Whether you need help in setting up secure and effective payment systems, getting the necessary funding to get your business off the ground, or ensuring your operation is compliant with local and federal regulations, we’re the company to call. Contact us today.
by Confia Development | Jul 8, 2022 | Blog
If passed and signed into law, The Capital Lending and Investment for Marijuana Businesses (CLIMB) Act could be the boost the cannabis industry needs.
Cannabis businesses and consumers alike are all too familiar with the industry’s growing pains: lack of capital access, exorbitant taxation, roadblocks in obtaining commerce and other standard business services plus, most recently, a sting of inflation. The bipartisan Capital Lending and Investment for Marijuana Businesses (CLIMB) Act proposes progressive legislature that could mean big changes to the cannabis industry while cutting the slack it needs right now.
Below are some of the highlights from the act that our team is most excited about and what they mean for the industry as a whole.
Highlight #1: The CLIMB Act would amend the Securities Exchange Act of 1934 to create a “safe harbor” for national securities exchanges (New York Stock Exchange, Nasdaq, and other securities market participants) to list state-legal cannabis operators.
Why It Matters: Currently cannabis companies can’t list on the U.S. exchanges so they generally trade only on the Canadian Securities Exchange or the U.S. OTC markets. OTC markets are extremely limiting in institutional support and have high volatility.
Highlight #2: The CLIMB Act would allow state-licensed marijuana businesses to deduct ordinary business expenses on their federal taxes.
Why It Matters: Currently, cannabis businesses are not able to do this because marijuana is still illegal at the federal level.
Highlight #3: The CLIMB Act would allow the cannabis industry to access a variety of “business assistance” opportunities from commerce institutions such as: credit card services, money transfers, accounting services, and lending. Additionally the bill would allow government agencies to offer grants and other sources of government funding to cannabis businesses.
Why It Matters: Cannabis companies are currently restricted from receiving traditional lending and financing. “The CLIMB Act will eliminate these barriers to entry, and provide state legal American cannabis companies, including small, minority, and veteran-owned businesses, with access to the financial tools necessary for success,” said Rep. Reschenthaler via press release.
“American cannabis companies are currently restricted from receiving traditional lending and financing, making it difficult to compete with larger, global competitors,” said Rep. Reschenthaler in the same press release.
The CLIMB Act would be a major victory for the cannabis industry if passed. It would level the playing field between cannabis and other industries, and provide much-needed access to capital and commerce services. This could help businesses grow and create jobs, as well as stimulate economic activity in the communities where they are located.
SOURCES:
https://www.congress.gov/bill/117th-congress/house-bill/8208?q=%7B%22search%22%3A%5B%22CLIMB%22%2C%22CLIMB%22%5D%7D&s=1&r=1
https://troycarter.house.gov/media/press-releases/congressman-carter-introduces-bipartisan-cannabis-bill-provide-access-lending
by Confia Development | Jun 15, 2022 | Blog
Top 6 Tips for Boosting Cannabis Cultivation
In order to maximize their return on investment, cannabis growers must find ways to boost yields, maintain quality, prevent pest infestations, obtain reliable 420 financial services, and otherwise optimize their operations. Extensive research and preparation is therefore necessary to ensure the success of a business and keep investors, vendors and customers happy.
We’ve previously discussed some of the many challenges cannabis cultivators contend with on a daily basis and explained how cannabis operators can ensure compliance for their businesses. Now we’ll help cultivators increase their yields by providing 6 time-tested tips on how to set up facilities for maximum productivity. Read on.
How to improve productivity as a cannabis grower?
As with any business, owners should strive to hire experienced individuals who are passionate about the work they do. Likewise, when introducing changes into your operation (such as new equipment or supplies), the safest way to do so is in increments rather than all at once. At the end of the day, cannabis growing is a marathon rather than a sprint.
Here are 6 more ways to increase your cannabis yields:
1. Spacing and airflow are key
Cannabis needs space and light to grow and develop. A great way to keep your plants from growing too close to one another is by tying them down while they’re still young to maintain spacing. Installing fans and filters can also help.
2. Prune properly
Pruning helps promote yield increases in plants and removes underdeveloped buds. This will cause the plant to produce buds that, although not as numerous, are bigger and healthier. Pruning during the vegetation stage promotes recovery and growth. Also, you can ward off some pests by pruning the lower branches.
3. Maintain healthy carbon dioxide (CO2) levels
CO2 is instrumental in photosynthesis, which directly affects how much a cannabis plant will grow. Too much or too little CO2 can greatly limit your yields or even kill your plants. Ideally, the CO2 levels should be above 250 PPM.
Investing in a CO2 generator or compressed CO2 is both the most effective and expensive way to obtain the necessary CO2. More affordable, but less effective ways to get the required CO2 include CO2 bags, fermentation, dry ice, and compost.
4. Improve water quality
Domestic water frequently contains dissolved solids such as fluoride and chlorine that can negatively impact the yields a cannabis plant may produce. To combat this issue, cultivators should invest in quality filtration or a reverse osmosis system, and regularly replace the filters.
5. Buy from reputable seed banks
When buying cannabis seeds, you usually get what you pay for. That’s why it’s strongly recommended that you purchase from a respected cannabis seed bank that offers seeds with the best genetics. Cloning is also a great option. As with seeds, be sure to buy your clones from trusted sources.
6. Premium lighting makes all the difference
Indoor cultivators should invest in high-quality reflectors, lights, and hoods. High-intensity (HID) lights such as T5 fluorescent lights and high-pressure sodium (HPS) are recommended. If you prefer to keep energy expenditures down by using LEDs, be sure to purchase full-spectrum LED lights with modifiable wavelengths.
How to find dependable 420 financial services for cannabis cultivators
Cannabis cultivators and other operators require financial and commerce services just as much as any other business. Unfortunately, specialized assistance can still be difficult to find in many parts of the country. That’s where Confia comes in.
We provide cannabis operators with a range of financial services which include secure digital payments, cash deposits, digital check deposits, lending plans, B2B payments, assistance with legal compliance, and more. Contact us today to explore our membership plans and learn more about what we offer.
by Confia Development | Jun 15, 2022 | Blog
5 Common Cannabis Cultivation Questions
Starting a new business is never a simple proposition, and it only gets more complicated when you’re dipping your toe into a relatively new industry such as cannabis cultivation. Knowing which questions to ask and how to obtain expert 420 commerce help can make all the difference when it comes to getting your new business off the ground.
In previous articles, we discussed some of the main challenges cannabis cultivators face and provided some tips on how they can ensure compliance for their business. Now we’ll help you take your cultivation efforts to the next level by answering 5 key questions. Read on.
What do you need to know about cannabis cultivation?
When you come right down to it, cannabis cultivation is farming, and farming has always been fraught with uncertainty. Understanding the ins and outs of the cultivation process is essential in order to ensure long-term profitability.
Here are 5 common questions every cannabis cultivator should ask:
1. Inside or outside?
Both approaches have their pros and cons. Interior cultivation gives you control over nearly every aspect of the process and may allow you to reap multiple harvests despite the annual nature of cannabis.
Outdoor growing tends to be less expensive and helps plants produce a greater number of buds. However, these operations are at the mercy of inclement weather.
2. How do you germinate cannabis seeds?
Put each seed into a Jiffy 7 style peat disk that has previously been moistened with warm water (77-86 degrees fahrenheit, or 25-30 degrees celsius) and store it in a dark, warm cupboard (same temperature as the water). Germination usually takes between 1-7 days. If you store your seeds in a fridge, be sure to take them out at least a day in advance.
3. What is plant gender and why is it important?
Although most hemp plants are male or female, some are hermaphroditic. Since CBD is mostly found in unpollinated female flowers, cannabis cultivators who are growing for CBD need to minimize the possibility of pollination in an all-female field.
To do this, you need to make sure there are no hermaphrodites in your all-female field and that there are no male plants within 3 miles of your all-female field. Inspect the plants at the pre-flowering stage, identify any males (these have round flowers that lack white hairs and typically occur in dense clusters), and burn, bury, or carefully store them away to keep them from pollinating the females.
4. Clones or seeds?
Both have their advantages. Clones (mostly) eliminate the risk of male or hermaphroditic plants appearing in your field, and they also develop a more fibrous root system. Plants grown from seed require extensive inspection to remove males and hermaphrodites to prevent pollination, but may produce a stronger taproot when sown directly into the field.
5. What’s the best type of manure?
There’s no such thing as “best” manure for cannabis cultivation. It’s up to the cultivator to pick their preferred type and apply it in accordance with manufacturer guidelines. It’s also recommended to stick to one brand of manure, as this prevents compatibility issues that may negatively impact the plants.
How do cannabis cultivators get professional 420 commerce help
Confia supplies cannabis cultivators and other 420 businesses with reliable financial solutions that include a comprehensive range of commerce and advisory services. We offer multiple membership options and specialize in helping cannabis operators obtain the support they need.
Whether you require assistance in navigating issues such as ensuring your business is compliant with the federal and local laws and regulations, setting up efficient and secure payment systems, or obtaining access to funding, don’t hesitate to give us a call today.
by Confia Development | May 25, 2022 | Blog
The cannabis industry is notorious for its complex regulations and detailed compliance requirements. In addition to numerous local, state, and federal laws, cultivators also have to handle compliance audits, new systems, plentiful documentation, and the difficulty of finding reliable 420-friendly banks.
In this article, we’ll help you ensure and maintain compliance for your cultivation operation by providing six tested tips that will help you avoid common pitfalls and pave the way for success as a cannabis grower. Keep reading to learn more.
How can cannabis cultivators stay compliant?
Ensuring compliance is one of the biggest challenges new cannabis cultivators face. With hundreds, if not thousands, of different codes, statutes, rules, and regulations set up by the FDA, OSHA, and EPA, it’s easy to miss or misunderstand something that can pose a serious issue at a later date.
Here are six tips that will help you ensure compliance for your cultivation business:
Tip #1: Prioritize safety
Perform a job hazard analysis and ensure proper workplace and chemical safety guidelines are followed at all times. Although OSHA hasn’t started making surprise visits to cannabis cultivation facilities yet, it’s only a matter of time before they will begin to do so. Be prepared.
Tip #2: Maintain high hygiene levels
Enforcing strict cleaning, sanitation, and disinfection protocols is necessary to maintain a safe and healthy environment for your staff and plants. In addition to helping with compliance, this also protects your investment by reducing the risk of pests, insects, and diseases.
Tip #3: Emphasize crop health
Never buy your start-up crops (clones and seeds) from unknown or “budget” suppliers. Use integrated pest management systems and make crop inspection and maintenance a key component of your daily routine. Consider investing in crop insurance.
Tip #4: Understand the importance of security
All states with legal and regulated cannabis markets consider security to be of major importance. This not only requires you to equip your facility with commercial-grade locks, alarms, surveillance systems, and digital security but also to make security-conscious hiring decisions to prevent break-ins that involve insider assistance.
Tip #5: Manage your inventory
Keep a close eye on your inventory and make sure your seed-to-sale tracking is as flawless as possible. Reconcile on-premises and in-transit cannabis at the end of each business day, perform daily inventory audits, and immediately address any discrepancies.
Tip #6: Run a green operation
Sustainability is a major concern in most industries today. Since cannabis cultivation is farming, it’s expected to follow many of the same guidelines that other types of farming do. This includes water and energy conservation, reduction of carbon footprint, safe disposal of waste, vertical farming, and more.
Tip #7: Work with a 420-friendly commerce service provider
If you don’t have the time or ability to thoroughly familiarize yourself with cannabis compliance laws, it’s strongly recommended that you hire experts who can guide you through the compliance process, provide concise answers to critical questions, and automate the process by setting up seamless compliance structures.
Luckily, there are now reputable companies that can do all of the above while also providing competitively priced commerce services, helping you process payments and funds quickly and safely, providing the necessary funding to grow your business, and more. A partnership with one such firm can greatly alleviate the challenges cannabis cultivators deal with on a daily basis.
How do I find dependable 420-friendly banks that cater to cannabis growers?
Whether you’re looking to get into cultivation, manufacturing, distribution, or retail, Confia offers a comprehensive suite of financial services designed to meet the unique needs of cannabis operators. Our services are specifically designed to offer relief to plant-touching operators who have difficulties obtaining the right support.
Get in touch with us today if you’d like to consult with our experts or learn more about the different membership options we offer.