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The delays are mounting in Mexico's attempt to end cannabis prohibition.

For much of the past half-decade, marijuana has been one of the fastest-growing industries. After generating $3.4 billion in worldwide sales in 2014, global weed sales more than tripled to $10.9 billion by 2018. According to various Wall Street estimates, worldwide pot sales should hit $50 billion on an annual basis by 2030, with North America generating the bulk of this revenue.

One of the hottest industries of the last decade is not immune from the effects of Covid-19

As a business coach, I've worked with dozens of cannabis businesses on growth strategy and business operations.

Ten senators today joined 34 members of the U.S. House in calling for the ability of the nation’s cannabis companies in states that are “legal” (for medical or adult use or both) to access any upcoming Small Business Administration (SBA) relief funds during the current COVID-19 pandemic.

We’ve been fortunate to have had a front-row seat to witness the emergence of the legal cannabis industry in the media over the past several years. Back in 2015, we started to get approached by emerging cannabis brands that were looking to destigmatize the perception around their products, and more importantly, bring a greater level of objective reporting around the industry as a whole. At the time, most of these brands were well-reputed in niche cannabis industry circles, but were looking to take the next step and achieve mainstream awareness.

'A new alternative crop for many years to come'

Florida farmers are hoping the state's new hemp program will help them rebound from a virus-sullen growing season.

Lawmakers signed off of the growing and sale of hemp last year. Since then, farmers have been waiting for the completion of rulemaking and federal approval for months. They received it late last week. Florida is now slated to start accepting applications for industrial hemp growing licenses Monday.

The Lebanese parliament on Tuesday passed legislation to legalize cannabis cultivation for medical and industrial purposes, a move that was recommended by economic advisers even before the coronavirus pandemic dealt a devastating blow to the Mediterranean nation's struggling economy.

Marijuana legalization in New York seemed impossible this year. Recently, Governor Cuomo said the pandemic is the state’s main priority right now. He also said that a decision like marijuana legalization shouldn’t be made quickly. As a result, delaying marijuana legalization was a wise decision. However, lawmakers have been looking at other options. They want to discuss and make the legalization decision remotely through online discussions.

Cannabis businesses are in a unique position to showcase what a socially responsible industry could look like.

The traditional models for business entities fall under either for-profit companies focused on profit, or nonprofit organizations focused on social impact. But many emerging leaders are leaning toward a third option: social entrepreneurship. As a tool for effective social change, self-sustaining revenue-generating businesses built to create change can be more impactful than nonprofits, which rely heavily on hard-to-come-by donations.