Before starting to put up a hemp business, it is important that you know a lot more about it. There are some farmers who quickly decide about cultivating hemp and not thinking about what it is for them hence ending up to disappointments and complete devastation as they made the wrong decision about it.
Just so you know, putting up a California dispensary, more so a hemp plantation is not cheap, hence there is absolutely no room for error or else, all your hard work and hard earned money will all be gone.
If you want to make sure you are making the right decision, it is highly recommended that you ask the right questions. Asking not just to yourself but to https://greenhealthdocs.com/missouri-medical-marijuana-card/ suppliers of ingredients and materials you need is a must before pursuing the hemp industry.
To help you get started, below are a few questions you can start with.
Questions To Ask Before Pursuing Industry Of Hemp
What are the possible uses of hemp (in case you are planning to plant hemp, and not only selling marijuana)?
Before you even get started thinking about hemp, it is best if you know its possible uses first. Fiber from stalks could be used in producing construction materials, twine, rope, textiles, and paper. Grains from the industrial hemp on the other hand could be used for cosmetics, fuel, plastics and food products.
There are so many uses of hemp, and as someone who is planning to cultivate them, it is important that you know the uses of hemp.
How easy is it to grow hemp
Growing hemp is not the hardest. It is actually quite easy provided that you cultivate it in the right environment. Hemp is fast growing, high yielding and resilient kind of crop. It is actually easier compared to other crops you know.
But just like to other crops and plants, it may be infested by different diseases and insects. This being the case, you have to make sure that they are protected from the possible infestations.
The number of days before it can be harvested depends on many factors, like the environment, and the weather. Make sure that the plant is getting enough light, water and fertilizers when needed.
What are the types of marketing I can use
This is way different from the usual items or products you see being sold online. There are some limitations on selling hemp, especially online. You have to make sure that you know the boundaries of marketing it, do not be too easy and vulgar selling it online or else, you might get in to a possible trouble.
Needless to say, word of mouth is one of the most used ways of marketing for hemp farmers and sellers. Letting their customers speak on their behalf is not only free but also trusted and efficient. To make sure that you will get good remarks from your customers, always provide high quality hemp products and good service.
You can also create an e-commerce website, this way you can sell hemp to customers online.
When should I apply for a license
Securing a license is a must before starting cultivating and selling hemp. Those who want to grow hemp only need to secure a country registration in order to grow and plant industrial hemp. Application of licenses for both growers and breeders can be seen on the website of the CDFA Industrial Hemp program. There is a $900 fee for the license, and it is valid for one complete year.
On the other hand, selling CBD products in California does not require any special license but infusing beverages and food with CBD is unfortunately illegal in the city.
It was on January 1, 2017 when the law was signed, and started the legality of production and selling of industrial hemp.
Can I also sell hemp that I did not produce
You can definitely do that, you can produce your home grown hemp and at the same time, you can buy from third party sellers and sell it in a dispensary. There are some dispensaries in California, and not all of them are cultivating their own hemp.
The more questions to ask, the closer you can get from opening a hemp dispensary successfully. You may also need to make sure that everything is set before you claim that your hemp business is about to start.
Some of the things you have to make sure are ready are:
Employees
Were you able to hire the right employees, from farmers to sellers to customer service support team and so on. You must not open until you have all the right people on board. There are instances when a shop will open without the right farmer hired, hence production is delayed same as with the sales. Although hiring farmers is not necessary all the time for dispensaries.
Make sure that all the best employees are already hired, trained and ready to work with you.
Location
Location is also critical when starting a hemp business. Some of the things to consider about the location are:
Where to cultivate hemp (in case if you are planning to sell a home-grown marijuana)
Make sure that you already know a place where to cultivate hemp, in case you are planning to do so. The location should be best to grow hemp, from the lighting to temperature to water source availability and so on. This must be set before deciding whether to pursue hemp business or not. Without proper location to cultivate, it will be very hard for a hemp business to succeed
The right location to put up a store
If you are planning to put up a physical shop, make sure that you are putting it up in a good location. California can be a bit of a busy city, and putting your shop in the busiest places especially places where tourists are coming is highly recommended. Not all countries allow hemp usage, hence tourists are likely to try hemp when they are in California, as the city is a bit lenient with its usage and availability.
PRIYA NAIR has been appointed as the CEO and managing director of Hindustan Unilever Ltd (HUL), effective from August 1. She will be the first woman to lead the company in its history.
The announcement was made by HUL on Thursday (10). Nair, who currently serves as president, Beauty & Wellbeing at Unilever, will take over the role from Rohit Jawa, who will step down on July 31 to pursue other interests.
She has been appointed for a five-year term and will also join the HUL board, subject to necessary approvals. She will continue to be a member of the Unilever Leadership Executive.
Nair began her career with HUL in 1995 and has held various roles across sales and marketing in the company’s Home Care, Beauty & Wellbeing, and Personal Care businesses.
Between 2014 and 2020, she served as executive director, Home Care and later as executive director, Beauty & Personal Care from 2020 to 2022. She then moved to a global role as the chief marketing officer for Beauty & Wellbeing at Unilever, and in 2023, was named president of the business.
Under her leadership, the Beauty & Wellbeing division has grown into a more than £10 billion global business covering hair care, skin care, prestige beauty, and health and wellbeing, including vitamins, minerals and supplements.
She has overseen brand building, innovation, revenue growth, digital transformation, and profit delivery.
Speaking on her appointment, HUL chairman Nitin Paranjpe said, “Priya has had an outstanding career in HUL and Unilever. I am certain that with her deep understanding of the Indian market and excellent track record, Priya will take HUL to the next level of performance.”
Nair’s appointment comes after Jawa’s two-year term, during which the company focused on volume-led growth. “On behalf of the Board of HUL, I would like to thank Rohit for leading the business through tough market conditions and strengthening its foundations for success,” Paranjpe added.
Over her 28-year career, Nair has built and managed several leading consumer brands. She is recognised for turning around underperforming businesses and leading cross-functional teams.
The Indian executive has also served as an independent director on the board of a publicly listed Indian company, a board member of the Advertising Standards Council of India (ASCI), and a member of several government-backed partnerships and industry bodies.
Nair currently lives in London with her husband and daughter.
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The Canary Wharf business district including global financial institutions in London.
THE UK economy contracted unexpectedly in May, marking the second consecutive monthly decline, according to official data released on Friday. The figures present a challenge for the Labour government as it attempts to revive economic growth.
Gross domestic product fell by 0.1 per cent in May, following a 0.3 per cent contraction in April, the Office for National Statistics (ONS) said in a statement.
Economists had forecast a 0.1 per cent increase in GDP.
The data comes at a time when prime minister Keir Starmer's government is dealing with global challenges, including US tariffs and persistent inflation.
The Labour government’s fiscal strategy relies heavily on economic growth, particularly after recent reversals on welfare cuts and winter fuel payments for pensioners.
Finance minister Rachel Reeves described the figures as "disappointing" and said there was "more to do."
Labour has announced plans to reduce red tape and has unveiled a multi-billion pound investment programme aimed at the National Health Service and infrastructure to boost growth.
In separate data published by the ONS on Friday, UK exports to the United States increased by £0.3 billion in May. This followed a record fall in April when President Donald Trump's tariffs took effect.
"Growth is becoming incredibly difficult to achieve for the government," said Lindsay James, investment strategist at Quilter.
"The plans put in place so far are unlikely to move the needle in the absence of improving business and consumer sentiment in an environment of ongoing cost pressures," she added.
ONS director of economic statistics Liz McKeown said there were "notable falls in production and construction" which affected GDP in May.
She said the decline in production was led by "oil and gas extraction, car manufacturing and the often-erratic pharmaceutical industry."
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The bank's commitment to green lending reflects focus on sustainability (Photo: Getty Images)
BANKING major State Bank of India (UK) has cut interest rates on its buy-to-let mortgage products to help landlords reduce borrowing costs.
The bank said the rate cuts would help landlords invest in rental properties and meet growing demand for rental homes across the UK.
For the Standard Product Range, interest rates have been reduced by up to 35 basis points across all Loan-to-Value (LTV) tiers for five-year fixed-term products. In the SPV Product Range, rates have been cut by up to 40 basis points. Additionally, a flat fee has been introduced on larger loans for limited companies, aiming to simplify the lending process, a statement said.
The Houses in multiple occupation (HMO) product range has seen significant improvements. Rates have been reduced by up to 90 basis points on two-year fixed products and up to 50 basis points on five-year fixed products. Non-green properties now benefit from a flat rate of 5.15 per cent for five-year terms.
Fees for five-year products have also been lowered to 1.50 per cent for 50 per cent and 65 per cent LTV. Furthermore, green properties receive an additional discount of 10 basis points. Also, pricing for Multi-Unit Freehold Blocks (MUFB) has been brought in line with the HMO product range, offering similar rate reductions and terms.
Abhishek Sahay, chief business officer at SBI UK, said the bank wanted to support landlords with better lending deals.
"We understand the importance of service standards and have added capacity to our underwriting team to process applications in a timely manner," he said. "We recognise the crucial role landlords play in the UK housing ecosystem, and these rate reductions are designed to help them thrive in a dynamic market."
He added that the bank's ongoing commitment to green lending reflects focus on sustainability and reduction in the carbon footprint of the housing sector.
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Starlink will next need to acquire spectrum from the government, build ground infrastructure, and carry out testing and trials to meet the agreed security requirements. (Photo: Reuters)
INDIA’s space regulator on Wednesday granted Starlink a licence to begin commercial operations in the country, removing the final regulatory barrier for the satellite internet provider.
The company, led by Elon Musk, has been waiting since 2022 for licences to start operations in India. It received an initial approval last month from India’s telecom ministry and was waiting for clearance from the space regulator.
The licence, issued by the Indian National Space Promotion and Authorization Centre (IN-SPACe), is valid for five years.
Earlier on Wednesday, Reuters reported, citing sources, that Starlink had secured the licence from IN-SPACe.
Starlink is now the third company to receive approval to enter the Indian satellite communications market. India has previously cleared applications from Eutelsat’s OneWeb and Reliance Jio.
The company will next need to acquire spectrum from the government, build ground infrastructure, and carry out testing and trials to meet the agreed security requirements.
Musk and Reliance Jio’s Mukesh Ambani had disagreed for several months over how spectrum should be allocated for satellite services. The Indian government later supported Musk’s position that spectrum should be assigned, not auctioned.
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