The cannabis industry is notorious for its complex regulations and detailed compliance requirements. In addition to numerous local, state, and federal laws, cultivators also have to handle compliance audits, new systems, plentiful documentation, and the difficulty of finding reliable 420-friendly banks.
In this article, we’ll help you ensure and maintain compliance for your cultivation operation by providing six tested tips that will help you avoid common pitfalls and pave the way for success as a cannabis grower. Keep reading to learn more.
How can cannabis cultivators stay compliant?
Ensuring compliance is one of the biggest challenges new cannabis cultivators face. With hundreds, if not thousands, of different codes, statutes, rules, and regulations set up by the FDA, OSHA, and EPA, it’s easy to miss or misunderstand something that can pose a serious issue at a later date.
Here are six tips that will help you ensure compliance for your cultivation business:
Tip #1: Prioritize safety
Perform a job hazard analysis and ensure proper workplace and chemical safety guidelines are followed at all times. Although OSHA hasn’t started making surprise visits to cannabis cultivation facilities yet, it’s only a matter of time before they will begin to do so. Be prepared.
Tip #2: Maintain high hygiene levels
Enforcing strict cleaning, sanitation, and disinfection protocols is necessary to maintain a safe and healthy environment for your staff and plants. In addition to helping with compliance, this also protects your investment by reducing the risk of pests, insects, and diseases.
Tip #3: Emphasize crop health
Never buy your start-up crops (clones and seeds) from unknown or “budget” suppliers. Use integrated pest management systems and make crop inspection and maintenance a key component of your daily routine. Consider investing in crop insurance.
Tip #4: Understand the importance of security
All states with legal and regulated cannabis markets consider security to be of major importance. This not only requires you to equip your facility with commercial-grade locks, alarms, surveillance systems, and digital security but also to make security-conscious hiring decisions to prevent break-ins that involve insider assistance.
Tip #5: Manage your inventory
Keep a close eye on your inventory and make sure your seed-to-sale tracking is as flawless as possible. Reconcile on-premises and in-transit cannabis at the end of each business day, perform daily inventory audits, and immediately address any discrepancies.
Tip #6: Run a green operation
Sustainability is a major concern in most industries today. Since cannabis cultivation is farming, it’s expected to follow many of the same guidelines that other types of farming do. This includes water and energy conservation, reduction of carbon footprint, safe disposal of waste, vertical farming, and more.
Tip #7: Work with a 420-friendly banking service provider
If you don’t have the time or ability to thoroughly familiarize yourself with cannabis compliance laws, it’s strongly recommended that you hire experts who can guide you through the compliance process, provide concise answers to critical questions, and automate the process by setting up seamless compliance structures.
Luckily, there are now reputable companies that can do all of the above while also providing competitively priced banking services, helping you process payments and funds quickly and safely, providing the necessary funding to grow your business, and more. A partnership with one such firm can greatly alleviate the challenges cannabis cultivators deal with on a daily basis.
How do I find dependable 420-friendly banks that cater to cannabis growers?
Whether you’re looking to get into cultivation, manufacturing, distribution, or retail, Confia offers a comprehensive suite of financial services designed to meet the unique needs of cannabis operators. Our services are specifically designed to offer relief to plant-touching operators who have difficulties obtaining the right support.
Get in touch with us today if you’d like to consult with our experts or learn more about the different membership options we offer.