Roman, the general manager at Volstead Act, caps a bottle for a to-go Negroni.
If there was a silver lining for bars and restaurants during the past year it was this: While the pandemic caused massive restrictions to be imposed on the hospitality industry, the kind that bankrupted a lot of businesses, it also caused a few more-minor restrictions to be loosened. Take the Volstead Act, for example, a local bar named after the law that banned alcohol. After COVID-19 hit, that name became more literal than planned. While the Volstead Act could sell food to go, their signature cocktails had been ruled effectively illegal. Existing liquor regulations in Washington state were a little old fashioned: You could buy sealed liquor bottles, but not purchase cocktails for takeout.
The Top 3 CBD-Friendly States in the US
Amid regulatory confusion surrounding CBD, these three states have hemp-friendly laws and broad consumer interest.
The passage of the Agriculture Improvement Act of 2018 (the 2018 Farm Bill), legalizing hemp on a federal level and requiring states to implement industrial hemp programs, sparked a new “green gold rush” in the states. Entrepreneurs from all walks of life sought to capitalize on this green cash crop and industry that, in 2020, saw approximately $1.2 billion in total CBD product sales according to data compiled by Statista.
A common problem that hemp operator hopefuls often find, however, is navigating through the landmines of (often) conflicting state regulations and figuring out how they may operate their businesses. If they are not careful, hemp companies may face fines from state regulators, legal liability for selling non-compliant products, and even federal enforcement actions from agencies like the U.S. Food and D
New Washington law will help people of color get into the marijuana industry
License applicants who have prior convictions for pot-related crimes will now qualify for grant funding and expert advice to help them get started in the business. Author: Drew Mikkelsen Updated: 6:10 PM PDT May 3, 2021
OLYMPIA, Wash. The state’s marijuana business is booming, but not everyone is reaping the benefits.
Gov. Jay Inslee, D-Washington, signed House Bill 1443 into law Monday, which is aimed at helping minorities get into the state’s marijuana sales and manufacturing business.
According to data provided by the Washington State Liquor and Cannabis Board, when asked to identify themselves by race, 82% of the state’s licensed marijuana business owners identified themselves as non-minority.
HempFlax Announces Financial Results for 2020, Update on Current Trading
Last year, HempFlax saw its 10th year of top-line growth and revenues up 43%.
10th year of top-line growth, with full year revenues up 43% to €14.5m (FY19: €10.1m)
EBITDA increased 63% to €1.8m (FY19: €1.1m), the group’s second year of profit
EBITDA margin increased to 12.7% (FY19: 11.1%)
Profit before tax up 616% to €659,000 (FY19: €92,000)
Divisional performance during the period:
Revenue growth across every channel (CBD, hemp-based plastic replacement, construction, animal care, horticulture and genetics & cultivation)
1,089% increase in sales of the group’s construction materials, arising from the acquisition of Thermo Natur in May 2020
12% increase in sales of HempFlax hemp fiber as rising shipping costs increased demand for local fiber sourcing