How to grow your cannabis business during the lockdown?

The cannabis sector has faced many challenges during the COVID-19 outbreak. The crisis has disrupted production processes and logistics for many cannabis companies, leaving those with significant inventories in a more favourable position. In an industry shaked with changes, sufficient funding and liquidity have become crucial to survive these unstable times. 

MJBIZ Daily has examined 33 cannabis companies’ cash flow, credit facilities and equity. The result? Eight of those companies do not have sufficient funds to make it through the next 10 months. However, some major players on the market such as Canopy Growth, Cronos Group and Aurora’s stock evaluations have gone up. 

While some companies are experiencing serious problems with liquidity, others have found a way to keep a solid market position and not suffer from the uncertainty. The cannabis market needs education and better exchange of knowledge from those who have been able to continue doing business successfully during the crisis and attract investors.

With all conferences cancelled, this is obviously the time for education in the cannabis market to move online. It has never been so important to stay connected within the ecosystem, build crucial business contacts in this volatile market and continue to grow business. Taking an active part in the discourse of how the industry can stay strong and resilient during the crisis as well getting to know other industry players to build meaningful business connections from home will pay off after the crisis is over and business can open up.

Some business has not slowed down at all. Facilities are going online globally, new sales and distribution channels are coming to play, new products are being introduced to various markets. Cannabis/hemp is a new industry that is here to stay.
Kostas Ionnou
Vitalis Extraction Technology

CECF is the largest online conference in the Central and Eastern European region, where it aims to shape the ethical cannabis ecosystem, expecting over 1000 attendees on 9-10 June 2020. 

Virtual conferences and digital networking opportunities are going to become extremely important for the industry over the next 6 months. We as an industry will quickly adapt to virtual environments and realise the many benefits the medium has for greater connection.
Stephen Murphy
Co-Founder & Managing Director, Prohibition Partners

The conference will facilitate online networking – with an innovative platform attendees, speakers and sponsors will be able to meet for one-to-one calls and discuss business opportunities. The conference’s main goal is bringing up educational and business opportunities for all parties engaged – attendees, doctors, pharmacists, lawyers, investors, sponsors and exhibitors.

Companies signing up as exhibitors have got a chance to exhibit in a virtual space and interact with over 1000 attendees, show their brand, products, special offers and generate valuable leads to continue doing business.

Over 25 panels will gather 100+ renowned experts to provide for a 2-day long educational experience in the field of medical cannabis in Poland and the CEE region. The panels will cover the topics of investment, Polish supply chain, forming medical cannabis associations, challenges of cannabis therapies, and many more (check the full agenda here) topics. 

I am expecting a strong and fruitful discussion on cannabis in Europe. I look forward to hearing from the strong and diverse experiences speakers at CECF bring with them.
Deepak Anand
CEO & Director at Materia

The platform that will host the online conference offers attendees a chance to attend a live conference, multiple panels running at the same time and access to the recorded conference of over 24 hours of unique educational material.

The trend of operating online is widespread in the cannabis industry, as Steven Murphy highlights: “Business [in the cannabis sector] has been done mainly online for many years with a physical meeting just being a bonus!”.

CECF online will become an unprecedented event taking place this June to solidify the worldwide industry and provide unique insight on overcoming the challenges of COVID-19 for the industry, doing business and investing in Poland and the whole CEE region. Don’t miss out on this groundbreaking event, book your ticket now:

Let's build the Polish cannabis ecosystem at CECF!

About CECF

The conference is an investor and medical gathering. Its purpose is to educate and grow an ethical cannabis ecosystem in Poland and the wider region.

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