On Monday (July 2), the city of Los Angeles announced that it will finally begin its long-awaited cannabis licensing process for cultivators and manufacturers on August 1st.
Without the ability to obtain licenses, many cannabis businesses—both on the retail and cultivation side— in Los Angeles have been paying leases on expensive storefront properties without the ability to make revenue, accumulating debt and putting their businesses in peril. Some businesses have had to let go of employees to keep themselves afloat while they await licensing. Meanwhile, there’s hundreds of illegal pot shops in Los Angeles which are providing stiff competition for their legal counterparts.
On Jan. 19, Los Angeles started licensing recreational dispensaries in the city. There are currently only 155 cannabis retail stores operating there legally. Rather than small, mom-and-pop style stores, many of these license holders are large, wealthy businesses that own