Here’s the MJ Biz pie charts
Roughly 60% of companies operating in the cannabis industry don’t have bank accounts for their businesses, according to first-of-its-kind data from a survey conducted by Marijuana Business Daily.
The situation is even worse for companies that actually handle the plant, with 70% reporting that they’re currently operating without traditional banking services.
The poll, which includes the responses of over 400 cannabis professionals from across the country, also found that a surprising 49% of ancillary firms don’t have bank accounts. This underscores how difficult the situation is even for companies that don’t touch marijuana, such as consultancies, software providers and other firms that sell products and services to the industry or cannabis consumers.
While the industry’s banking problems are well known, there has been little data or research on the issue of how many companies are operating with banking relationships.
Among the plant-touching industry sectors, wholesale cultivation companies have the lowest rate of access to the financial system – 81% of these businesses don’t currently have basic services such as a checking account. The circumstances for infused products makers and MMJ dispensary/rec store retailers are somewhat rosier by comparison, but 68% and 54% of those businesses, respectively, nevertheless still don’t have bank accounts.
Nearly 30% of companies without a bank account report they are actively seeking one, and another 13% are not currently pursuing one but have tried to in the past.
Read the full report here… http://mjbizdaily.com/chart-week-60-cannabis-companies-dont-bank-accounts/