Hemp Regulations and Their Impact on Small Businesses

The hemp industry is growing rapidly, but with new regulations and laws, small businesses in the industry are worried about their future. Hanover hemp, LLC is one of these businesses, and they have seen an increase in their orders, but with the new regulations, they are concerned about the amount they have invested in their business. The Law Library of Congress recently issued a milestone report on hemp regulations, and a bill on Governor Glenn Youngkin's desk is making hemp businesses uneasy. In Virginia, some hemp shops are worried they will have to close their doors, while in Argentina, the government is considering approving more varieties of hemp. The Virginia Cannabis Association is also pushing for Governor Youngkin to amend legislation to remove language banning sales of THC compounds. A study found that a bill to crackdown on hemp products could lead to more than 4,000 people losing their jobs. hemp is not approved as livestock feed, stifling a sustainable industry.