In the new year, I will celebrate a more joyful office culture, flexible schedules, borderless partnerships and being mission-driven. These values will make your employees happier and make your company more successful.

There are many reasons new businesses fail, and cannabis companies are not immune to the same issues non-cannabis operators face. The accountants and advisors at Breakaway have seen that financially savvy, professionally operated cannabis entities are far more likely to thrive. In the following piece, we list the three most common reasons cannabis businesses fail and provide guidance on how to avoid these pitfalls.

California is famous-or infamous, depending on your perspective- for their comprehensive consumer protection laws. While many decry these burdensome, costly regulations, they save lives and foster safer living conditions. The author is not against regulations per se but believes that products with similar risks should be subject to similar regulations.

This article wraps up my story of becoming an entrepreneur. Thanks for reading. As we discussed the tips and lessons I learned to help build a successful business, I am thrilled to leave you with this final piece.

Endemic to the cannabis cultivation business is a significant timing difference between upfront expenses vs delayed revenue receipt compared to other verticals in the cannabis industry. Especially with cost-basis accounting, it is difficult to discern the underlying value of a cultivation business by merely looking at an income statement. In this piece we’ll explain how to prove the value of a cultivation business.

While it may just seem like 2021 started, in reality we're nearly in the fourth quarter which means tax season is right around the corner. 2021 was a big year for professional and financial changes and while we all know what we need to have ready for our CPA to file taxes, now is a great time to sit down and talk strategy. In the last final months of the year, you can make tweaks critical to your income and expenses which can wind up saving you thousands in the next year. But what kind of information can you have ready at hand to make sure that the time you spend with your CPA is productive?

One of the things we at Breakaway Accounting + Bookkeeping pride ourselves on is our ability to help cannabis clients improve performance and enhance financial reporting. Today’s case study examines a situation in which we helped a vertically integrated California operator take a step back, assess performance across the enterprise, and implement practical solutions that lowered overhead, optimized processes, and boosted revenue and profits.

Owning your own business is a dream come true! There’s nothing like the amazing feeling of getting your first shipment of business cards, hiring employees for your team, speaking with customers about how your business will service them – and overall joy of enjoying your passion daily.

In November 2016 I moved to Jamaica from New York City with my husband who is a diplomat. It all seemed like an escapist fantasy, running from the big concrete city and impending winter ahead to the sun-bathed tropics with its laid back vibes and vast selection of beaches to relax on. In many ways, it was a dream come true, but it also came with its own challenges. It was my first official foray into the world of “trailing spouses” where your identity is undeniably intertwined with the career of your other half. I had done my fair share of travelling and living in foreign countries, but this move was challenging.

Ready to make a career change to self employment? The first step forward is to evaluate, and yes take the leap. Once you’ve committed, it’s now time to create your business formation, including short and long-term planning.