Preparing for Regulated Cannabis in 2024
End of the Year Wrap Up
As the 2023 year comes to a close, this is the perfect time for operators to evaluate the compliance gaps in their operations and tighten up any loose ends as the beginning of 2024 is fast approaching the industry. There is a lot to learn from the ups and downs this year and it can be used as operational benchmarks on how to improve overall when it comes to compliance.
What most stood out this year in the realm of the cannabis compliance world, is we’re seeing more enforcement from States, and a stronger emphasis on incorporating Federal Standardization into States Cannabis regulatory frameworks. We’re seeing a lot more worker safety standards, quality management systems and HACCP, cGMP and OSHA requirements being woven into cannabis regulations across the country. Liability and public safety are at the forefront and is only going to become more polarized as more States come online and work towards minimizing the risks, operating and functioning like other normal industries do.
The industry is maturing and beginning to grow up in a sense as it’s related to Standards. Yes, there is still a lot of work to be done, and there are a lot of good people and organizations that are trying to move the needle forward.
It’s been a mixed bag this year across the industry, and as some people are in the process of winning a license, or building out their operations, or having great success stories, others are shuttering their doors and selling their licenses off. The terrain of the industry keeps shifting and morphing as people try and figure out their next steps and how to adapt to the ever-changing landscape.
Here are 4 Compliance Tips for Preparing for the Regulated Cannabis Market of 2024 and how to come out of the gate ready to rumble:
- OSHA & Worker Safety - It’s a real thing and you can be fined severely. Employers need to take it seriously and fully grasp their responsibilities and provide a safe place for employees.
- Product Liability & Safety - Operators are going to be held responsible for Adverse Events whether it's from a consumer or an employee. Having an Employment Practices Liability Insurance (EPLI) policy is the best way to transfer this risk from your business.
- Avoiding Common Mistakes - As the uptick in enforcement continues in newer markets and a larger demand of Federal Standardization are written into the rules and regulations like OSHA, HACCP, ISO, cGMP, and ASTM. Now is the time to evaluate and do a Gap Analysis and expose where the compliance gaps are in your Cannabis operation.
- Due Diligence - is the key for 2024 for operators in managing the overall risks and avoiding getting caught up in enforcement actions. Audit, Audit, Audit. Have a plan for compliance and create a road map to help manage it.
- Get a Fresh Start - Use the upcoming start of the New Year, to revamp your compliance efforts. Provide compliance training for employees in January to ensure they’re starting off on the right foot, they’re the gatekeepers after all and deserve to be well armed to do their jobs efficiently.
There is this forced reflection that happens at the end of every year for most businesses and people in general. It can be uncomfortable having to see what did not work, the failures or where the gaps are. We see it as an opportunity to grow, learn and improve upon. Take advantage of it and use it as a tool in your “compliance toolbox” for achieving the success that your company is working towards.
We wish everyone Happy Holidays and Happy New Year from the ICS Consulting Team!
ICS Consulting specializes in Compliance based services, such as Third-Party State Regulatory Audits, State and Local License Application Support, Technical Writing, Standard Operating Procedures Development, Worker Safety, QMS, OSHA Compliance, HACCP, Metrc Seed-to-Sale Support, Compliance Operations Training, Employee Retention Solutions, and Employee Onboarding. For more information on how ICS Consulting Service can help your Cannabis Business, book a free 30-minute consult and we'll help you map out your next steps to be successful in the Regulated Cannabis Industry.