According to a recent survey, a staggering 62.4% of cannabis financial leaders believe that the Biden administration does not support cannabis and 41.6% think we are 5+ years away from federal legalization.
GreenGrowth CPAs, the leading accounting and professional services firm serving the cannabis industry, has released the industry’s first 2021 Cannabis CFO Survey that revealed this finding.
The 22-page report analyzes business and market outlook data from 75+ cannabis industry CFOs, CEOs, Founders, Controllers, and other financial leaders in 20 markets throughout the United States.
Topics that had been addressed in the report include: perspective on the cannabis business environment, progress recovering from the COVID-19 pandemic, outlook on raising capital, and assessing the potential impact of the Biden Administration.
Other findings include that 70.72% of cannabis operators feel the cannabis business environment is improving (… but only 28% of cultivators agree).
The survey also found that 18.2% of operators are stronger financially today than before the COVID-19 pandemic and 79.2% of operators are planning to raise capital, 19.5% through an IPO/RTO go-public transaction.
The insights in the 2021 Cannabis CFO Survey were self-reported a blend of multi-state operators, retailers, cultivators and ancillary service providers throughout the cannabis industry.