The novel coronavirus, COVID-19, has impacted nearly every industry, and the cannabis industry is no exception. As the United States economy continues to experience instability and uncertainty, cannabis companies face increasingly difficult challenges, particularly since the legal cannabis industry remains in flux in most states. Some hemp and cannabis business owners have continued operations as usual, while others have closed their doors completely. It is difficult to navigate the cannabis industry during these stressful and unprecedented times, but cannabis lawyers are able to provide experienced counsel and support as needed. Below, we discuss four critical actions cannabis businesses should consider amidst the COVID-19 threat.
One day, the global pandemic surrounding the coronavirus will end, and countries and states will reopen. The question on every business owner’s mind, however, is when this will happen. Both small businesses and massive corporations are struggling through this global humanitarian and economic crisis, and there are a lot of unknowns about the future after this pandemic runs its course. Companies struggling to survive this crisis may wonder what their future will look like and how they can recover. The team at Dallas law firm, Ritter Spencer, is here to advise and support business owners as they work to strengthen their company after the coronavirus.
Rent is generally due at the first of the month. Many landlords are undoubtedly concerned that their clients will not pay rent this month and for good reason. The country has unprecedented numbers of unemployed individuals, and many businesses are closed, from restaurants and bars to after-school programs and malls. Government programs have been enacted, but the money from those programs will take at least a few weeks to be paid to individual and commercial tenants. Dallas-based lawyer,David Ritter, explains what this means for landlords and tenants in Texas.