Certainly, there is no shortage of opportunities to commercialize hemp. But until hemp is treated as an industrial crop that can grow freely, businesses won’t thrive. Many states have already taken steps to legalize and jump-start their local hemp economies, but the industry won’t scale until the federal government passes legislation that protects farmers and entrepreneurs from archaic and nonsensical narcotics regulations. Until then, this is a great time for entrepreneurs to start planting the seeds of their hemp ventures.
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In addition to THC, Meyer and consumers also need to worry about whether CBD products have contaminants. That’s because cannabis plants readily absorb heavy metals, pesticides, and other potentially harmful chemicals that may be in the soil or water, says Kyle Boyar, a cannabis scientist at Medicinal Genomics, a company that develops tests that help labs comply with state rules. To protect against that risk, cannabis plants should be tested frequently while they are growing, and finished products should be tested, using validated methods, too, Boyar says.
The legalization of hemp does more than simply create a new industry, and thus new business ideas and opportunities for entrepreneurs. Hemp is an extremely diverse crop with a wide range of applications, including in textiles, nutrition and biofuels, to name a few. The wider availability of these products could provide small businesses with more cost-effective or durable inputs.
Hemp, a non-intoxicating form of the plant Cannabis sativa (L.), was outlawed in the U.S. in 1937 when Congress passed the Marihuana Tax Act. Although most states have legalized hemp in some form since, the federal prohibition meant interstate commerce involving the plant and its derivative products remained illegal. Jenelle Kim, co-founder and lead formulator of hemp product manufacturer JBK Wellness Labs, said the prohibition overshadowed thousands of years of hemp usage in human culture. [Interested in starting a business in the cannabis or hemp industry? Check out our guide to the emerging opportunities in that field.]
I am a very private person when it comes my health. I’m English we don't talk about our ailments. I have to share because I believe by getting over myself I can help others. I have been taking 500mg 4 drops 2x a day for 4 weeks. My results as follows, came off Lexipro for anxiety after 2 weeks. no longer need my BP meds and will come off Lipitor after seeing my Doctor. Pepcid no longer needed for acid reflux. I bought the Relief cream but I haven’t needed it as my body feels as if it’s been WD-40'd. Not bad as I will be 78 next week. (Send chocolate)
Now I had to address how I was going to market these products effectively without selling to family and friends. What I learned is that some of the top producers in the company were using social media and other internet marketing to sell the products and business opportunity. Then I realized there is a wholesale program so I could also sell to retailers such as dispensaries, vape and head shops, natural health food stores, alternative medicine practitioners and the list goes on. I could also share the products through meetup groups, doing events, etc. so there are no shortage of ways to market the HempWorx CBD products.
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