Regulatory:
The debate of marijuana legalization has been going on for
many years now. Just as people fought for the legalization of alcohol, people
fight for the legalization of marijuana. Marijuana has many different opportunities
and could be the next big thing to happen in the United States. Following
marijuana legalization we will see technology expand to help develop new
medicines, alternatives for paper, alternatives for building materials, and
possibly a safer way to enjoy a product that “takes the edge off” like alcohol
does for many business men and woman. This information can easily be explored
by just simply google-ing about marijuana and hemp which could become just as
big of an industry as the oil industry. Potential customers can be patience who
experience seizures, veterans who experience PTSD. Hemp which is classified and
treated like marijuana can be used as an alternative to paper and can be
refined to function as fuel for a new automobile engine. This is a mildly
difficult industry to get into depending on what you are doing. Farms can be erected
and the crops can be sold, or you can function as a factory that helps process
the crops into medicines by extracting the natural chemicals found within
marijuana. The startup could be expensive because it would take knowledge of
plant growth and chemical compounds. This will require specialist to be hired
or schooling to take place before the venture can be made. Others may not see
this opportunity because they may disagree with the idea of legalizing
marijuana because it has been classified as a drug equivalent to heroin and
cocaine which are proven to cause deaths and effect people in different ways
than marijuana does.
OSHA, and organization that may make some business owners
cringe by just muttering the word. OSHA is the Occupational Health and Safety Administration
which oversees work sites and offices to ensure the safety of all employees
within the United States. A new change
is presenting itself within the work force and that is the mandatory change of
digitizing injury and illness reports. This new regulation will cause all employers
to submit electronic reports of their illness and injury reports and open new
opportunities for tech savvy people to find new jobs to create these reports
for business that may be lacking their technology advantage. Potential clients
for a data company will be all employers that have more than 20 payroll
employed employees in their work force. This could be potentially easy to
create a business that processes these reports if a company does not have a
technologically inclined office manager or book keeper. Someone may disagree
with this opportunity because if a company has more than 20 employees they must
have someone who can handle this task. The truth is that many companies have
book keepers or office managers that have been doing the same thing for 20 plus
years. To insure proper reporting and not have any penalties or fines assessed it
would be best to hire a company that offer this guarantee of accurate work and
no repercussions if work is done in error.
Economic:
A new up and coming economic change is the idea of Block
Chain Technology. Block chain technology is the idea of linking all digital
information into a web of information that is easily compared and integrated to
help create a web of information for the different industries that are present
within the global marketplace. The opportunity of this technology is the
adaptation business can make to utilize the information presented within block
chains interface. Block chain technology can be utilized by major companies and
current employees of corporation can become intrapreneurs and create new
channels to help analyze block chain data to create new business plans or develop
new products. This opportunity will be mildly hard to exploit because it will
require training on how to analyze the data and then how to implement the data.
This opportunity will be best prioritized by major corporations rather than
small local businesses. Someone may not agree that this is an opportunity
because they may not see the potential information that can be gathered by this
new technology. An example is within the agricultural industry, companies can track
the exchange of money to purchase a product. This mean supermarkets can track
who purchased these goods before they did, this can ensure product quality and
ensure they are getting the best buy for their money.
Another economic change is the information regarding oil and
gas prices. As we can see through history gas prices have been steadily
increasing and as time passes they will continue to grow because we all know
oil is not an infinite resource. This opportunity would be the idea of
developing new power sources. With the ongoing debate of hemp and marijuana
being more accepted we can create no power sources by synthesizing the
chemicals within these plants just as we do to crude oils to create gasoline
and diesel fuels. Potential customers will be major power companies, home
owners, cities, towns, and villages to help power homes, vehicles, and
businesses. This opportunity would be hard to exploit because it will take a
large sum of capital investments to make this work and fund research. Again
someone may disagree with this opportunity because they may not agree with the
abilities of marijuana or hemp.
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