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Changes in Colorado Medical Marijuana Industry Both A Positive And A Negative

Staff CMM - Friday, August 24, 2012
On July 1st of this year, Colorado lifted its two-year moratorium on new dispensaries, allowing for new dispensaries to come into the Colorado market. This move is going to be highly beneficial to the financial end as it will offer new opportunities for businesses in the medical marijuana industry. For smaller business, this may prove to be a fatal blow as the competition may force them out of the market. Many still believe this move will ultimately benefit the industry as a whole, however. Still, another issue threatens to damage the medical marijuana business. American Express has already removed itself from the medical marijuana business and now shop owners are dealing with the fact that both Visa and MasterCard have removed themselves as well. With all of these major credit card companies out of the picture, dispensaries are forced to handle transactions in cash, which they believe is opening them up to more potential break-ins and robberies. Even with the moratorium lifted, many believe this move will limit the industry’s growth.
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