Rehmann has published its 2022 Michigan Cannabis CFO Outlook Report that confirms what anyone in the industry already knows – oversupply has all but evaporated profit margins for growers, processors and dispensaries.
“The cannabis industry is constantly evolving and facing new challenges, so the need for information will be helpful as the industry evolves,” said Chris Rosmarin, CPA and principal at Rehmann. “Our report offers cannabis licensees some data they may find useful in assessing how they compare to others in the industry, plan for the future as they respond to inquiries from stakeholders.”
You can view a video interview with Rosmarin at this link
The featured data includes chief challenges the cannabis industry faces in Michigan, including but not limited to financial management, acquisition operations, compliance requirements and federal legislation. In addition, the report boasts industry spotlights highlighting actual businesses facing these issues in real-time and recommended solutions.
In July, Michigan set a new monthly record for marijuana sales, reaching nearly $210 million according to data published by the state Cannabis Regulatory Agency. Recent data also revealed a continuation of medical marijuana sales dropping and adult-use sales increasing.
“Identifying business trends not only provides helpful insights to the status of the industry as a whole, but reinforces our devotion to researching, discovering and producing the latest data that will amplify our clients’ business objectives,” said Maher Faik, CPA and senior manager of finance and accounting solutions at Rehmann. “We look forward to watching our cannabis practice area grow alongside the industry.”
To view the report, visit https://go.rehmann.com/2022CannabisCFOOutlook.