LA Cannabis New Publishes Article: Should cannabis companies hire in-house financial teams or outside financial firms? The answer is neither (and both)

OK then ?

Here’s how they introduce the piece

Cannabis companies are in need of top-notch financial teams to stay afloat. However, few professional financial teams are willing to become involved in this budding sector. This is unfortunate as many fledgling cannabis companies find themselves facing a plethora of finance-related challenges alone, which is especially problematic during the start of their ventures.

The cannabis sector is one of the most highly regulated industries. As a whopping one out of five cannabis companies get audited, compliance with these regulations is essential. And with 280E plaguing the industry, the heavy tax burdens associated with this industry demand a sophisticated and expert financial and accounting team to mitigate these issues, while ensuring these companies remain profitable and compliant.

Traditionally, companies seeking help with their financial functions had two options: third-party accounting firms and in-house teams. In cannabis, however, each of these options has serious shortcomings. 

In this article we explore a third, new paradigm that was created specifically for cannabis companies and has quickly emerged as the option of choice for many companies looking for leading-edge financial solutions at a price they can afford: the fully-integrated financial partner model.

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