By Jelena Martinovic

Dama Financial recently conducted a study of operators throughout all cannabis-legal states regarding their issues and struggles.

When questioned what enterprise concerns or troubles continue to keep them up at evening, more than fifty percent of respondents cited both robbery or staff basic safety as their top problem, whilst a quarter explained the looming risk of a lender account shutdown is their principal supply of be concerned.

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“More than 50 percent of respondents to our study cited either anxiety of theft or staff security as their top rated issue, yet almost 6 in 10 mentioned they work completely in cash, and near to 7 in 10 say they have not opened a lender account,” Anh Hatzopoulos, co-founder and chief government officer at Dama, stated. “The danger of crime will in no way be fully avoidable, but it can be lessened appreciably by participating transparently with the banking technique, using income management instruments, and employing buyer payments solutions that eliminate money from operations.”

Compliance also emerged as a issue among operators, with 70% of respondents stating they have a tough time navigating their state’s regulations all-around working a cannabis small business.

“The outcomes confirm that hashish house owners need to have assist navigating the procedures not only all over banking, but close to operations at each individual stage of the supply chain,” Hatzopoulos continued. “CRBs that do not implement methods and systems to maximize both of those operational and regulatory efficiencies are going to have a challenging time surviving as the market gets to be a lot more competitive.”

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Dama lately announced designs to purchase GrowFlow, whose business enterprise administration and compliance resources have processed far more than $3.3 billion for hashish stores, cultivators, processors, and distributors.

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The mixtures of Dama’s fintech and payment options and GrowFlow’s software system will present operators a detailed platform that fulfills the enterprise demands and regulatory obligations of any licensed hashish small business — across all verticals — almost everywhere cannabis is authorized.

This short article initially appeared on Benzinga and has been reposted with permission.