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What The Future Looks Like For Fresh Graduates In The Tech Industry

What The Future Looks Like For Fresh Graduates In The Tech Industry

The opinions expressed by the activists are their own.

After massive growth in the tech industry in 2020, tech companies are downsizing and cutting their workforces in half . According to Fortune, more than 120,000 technical service workers will lose their jobs in 2022 due to mass layoffs. Tech companies are bemoaning the macroeconomic downturn, and the tech industry's lag is forcing them to make tough decisions.

During the Covid-19 lockdown, all businesses had to go online as the internet was still the only place where traffic flowed freely. As a result, the technology industry operating as a new property has seen tremendous revenue and operational growth, with revenue up 90% in terms of value and inventory.

While the tech industry has enjoyed unprecedented success, other companies have suffered major downturns or outright collapses, such as: B. hospitality industry. These struggling companies have had to merge and collaborate with the tech industry. This led to a sudden boom in the tech industry, and companies began expanding their workforces to meet demand.

Unfortunately, the downside is that tech companies are drowning in a pool of lost revenue. As the New York Times headline, "When Your Boss Is Crying But You're Getting Fired," employers are scrambling to contain the situation and are being forced to cut costs, including laying off talent.

See also: 5 things I wish I knew before I got my first tech job

Fresh graduates are in a tough spot

While the world worries about ex-employees at god knows what jobs , I worry more about the fate of new graduates. those who are now in the market in the wake of ex-meta engineers and ex-meta engineers. to compete Amazon women. Product manager. In general, the graduate job market has never been so favorable. Hiring managers are "promised" to prioritize candidates with more practical experience over freshmen .

The United States boasted that it had more jobs than human resources and was opening its doors to foreign talent. The growing demand for tech talent has made it easier for fresh graduates to break into the tech industry. However, continued layoffs suggest we have more tech talent than available jobs. I can't help but imagine the fate of new tech talent entering the field. New graduates will face more competition than ever, competing with talent from around the world and freezing their hiring at their dream companies. 2023 could be a tough year for those fresh out of college, graduating and jumping through hoops in the tech industry.

The probability that new talents will get good positions in the technology sector is very high. Therefore, this article examines what 2023 might look like for college graduates looking to enter the tech industry. Here are some of the biggest challenges facing the tech industry today and how they affect new graduates:

reductions

This year saw a record number of layoffs in the tech industry. For example, Meta has laid off about 13% of its total workforce, or about 11,000 of its employees. Twitter, one of the largest technology companies, has laid off half of its workforce, about 3,700 workers. On top of the downsizing trend, Amazon will cut 10,000 jobs along with Best Buy, Ford Motors, HBO Max, Peloton, Shopify, Re/Max, Walmart and Wayfair. .

Moreover, experts predict that this will not be the end of layoffs at tech companies. It is estimated that we could see 30,000 to 40,000 more layoffs in the first quarter of 2023. So, about 40,000 experienced workers will attack a bloated industry and compete with these newbies, who will have an even harder time standing a chance in a closed recruitment industry.

Related to: 6 entry-level tech jobs that pay more than $90,000 a year

Homework

Due to the pandemic, telecommuting is becoming a culture in all companies, and the percentage of companies adopting telecommuting policies is growing exponentially every year. One of the advantages of telecommuting is the ability to work with people from different parts of the world. This means that local work, normally limited to people living in the United States, will be open to the global community.

However, having a job in the United States does not automatically mean that the job is limited to living in the United States. The number of new graduates will increase in the difficult labor market. In other words, new graduates aren't just competing against ex-Twitter employees; You'll be competing with equally brilliant new graduates who are less qualified but also cheaper to work for.

Hiring freeze and absenteeism

Mark Zuckerberg's message to Meta employees stated that Meta will freeze hiring until December. So have Twitter, Google, Amazon, and others. The dreams of fresh graduates hoping to partner with these tech giants now seem ambitious.

While many predict an increase in the number of startups, if we spread the output of each startup over about 110 people, which is actually a lot, it would take 100 startups to get a ton of meta releases. How much more so when we add people from Amazon, Twitter and other tech giants, as well as the skilled unemployed. Worryingly, the unemployment rate is 3.7% in November 2022, and new graduates have yet to make progress this cycle.

Related: 10 Best US Cities for Tech Jobs

bad economy

The global economy is not in the best shape since the start of the Russian-Ukrainian war. Many of America's allies in Russia and its allies suspended operations to show their support for Ukraine, costing them dearly. Since the start of Russian aggression against Ukraine, Economist Intelligence Unit forecasts show a sharp drop in GDP growth forecasts for the year to 0.4%. Not to mention the huge changes in cash flow in the tech industry from year to year. While recent graduates have no business in the U.S. economy, the outlook for the turnaround of these tech giants is not perfect, and startups may not have enough money in a booming economy. .

The business world is not as pleasant as it used to be. Startups need to be more serious than their older peers to make waves. Fresh graduates who want to start startups have to work harder to beat the competition. We will see a "survival mode" show before these startups take their first breath in the business growth cycle. A fair where start-ups have to be careful and diligent to create an incentive to attract the attention of major investors, first customers and more qualified employees, and then compete at a high level.

Potential learning opportunities

While the odds of getting an engineering degree are high, that doesn't mean all doors are closed. Here are some tips to consider:

  1. Take advantage of remote work to explore job opportunities outside the United States; Europe, Asia and other continents are now investing heavily in the technology.

  2. Note: Some large tech companies are still reluctant to hire engineers for their projects. Apple says it will hire a mixed reality engineer for its Metaverse project. TikTok also plans to add another 1,000 employees to its team.

  3. Refine your skills and stand out. history shows that even during hiring freezes, companies continue to hire exceptional talent. They close the door of mass work. Your meta dream is still coming true, but it's pretty weak now.

  4. Think about practice. Internships are the easiest way to break into top companies, even during a hiring freeze.

  5. Look at the startups. startups continue to raise funds from venture capitalists and develop all kinds of software. You can get a job at a startup by joining a job community, following the right people on Twitter, participating on LinkedIn, and more.

What does the future hold for computer science graduates?

Categories
Business Industry

Chubb Launches Global Climate Business Unit

Chubb Launches Global Climate Business Unit

Chubb says it is leveraging its promotion and risk expertise by bringing together divisions in traditional, alternative and renewable energy services, climate technology, agribusiness and plant engineering. By 2022, these companies will generate more than $675 million in revenue for the company.

This new division is led by two senior Chubb executives. Matthew McMullin (above left) has been appointed head of Chubb's global climate practice in North America, and Matthew Hardy (above right) has been appointed head of Chubb Overseas General (COG), which handles markets outside the US, Canada and Bermuda. . .

"In addition to being one-third of the global CleanTech 100 companies, we've been in the renewable and alternative energy business for more than 20 years, and during that time we've seen the rapid evolution of technology," said McMullin. "This new business will increase appetite and add specialized insurance products and related services to better facilitate the transition from hydrocarbon-based fuels to clean, renewable natural resources."

“Our local presence in 54 countries and territories allows us to be at the forefront of new technologies, including agrotechnology in Latin America, electric vehicles in Europe and manufacturing in Asia, as each area contributes to this goal. otherwise,” Hardy added. "With a comprehensive suite of solutions, dedicated underwriters and risk managers, we can scale to meet our clients' needs, no matter how complex."

Currently based in New Jersey, McMullin will remain head of the North American energy practice in his new appointment. He joined Chubb in 2008 and has held various positions in global emergency services. In 2021, he joined the commercial energy insurance practice to lead the promotions portfolio.

Based in London, Hardy is COG's executive vice president of energy. He has nearly three decades of experience in the insurance industry and joined Chubb in 1996. Over the years, he has held various positions in the energy industry, including Head Onshore and Head Underwriter Energy COG.

Rounding out the team is attorney Margaret Peloso, Chubb's new Global Climate Associate. He left Vinson & Elkins for Chubb, where he became the firm's senior partner in sustainable development. He holds a PhD in environmental science from Duke University and is a board member of the Environmental Law Institute.

"After months of careful consideration, today we are announcing our expanded commitment to support the transition to zero emissions in response to growing climate challenges," said Chubb President and CEO Evan Greenberg. "In the coming months, we expect to see new opportunities for Chubb to help our customers across all industries as they strive to become more carbon neutral and resilient to the threat of climate change."

Professor Ian Chubb responds to Maurice Newman's comment that climate change is a myth.

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Business Industry

Whats Next For The Chip Industry

Whats Next For The Chip Industry

The Netherlands and Japan reportedly agreed to codify some US export control rules in their countries. But the devil is in the fine print. "There are definitely votes for the Americans," said Lee, who lives in Germany. "But there are also some loud voices suggesting that simply following and crushing America would be bad for Europe's interests." Peter Wennink, CEO of Dutch lithography equipment ASML, said his company had "sacrificed" export controls because US companies benefited.

Differences between countries may increase over time. "The history of coalitions limiting these technologies shows that they have become complex to manage over time and require active management to operate," Miller said.

Taiwan is in a very difficult situation. Due to geographical proximity and historical ties, its economy is closely related to that of China. Many Taiwanese chip companies like TSMC are selling to Chinese companies and building factories there. In October, the United States granted TSMC a one-year exemption from export restrictions, but that exemption cannot be renewed when it expires in 2023. I don't see that anytime soon.

"Therefore, Taiwanese companies should be careful with the uncertainty," Hsu said. That doesn't mean they'll pull out of all Chinese operations, but they may invest more in overseas facilities, like the two chip factories TSMC plans to build in Arizona.

As Taiwan's chip industry aligns with the United States and solidifies alliances around US export control regimes, the once-globalized semiconductor industry is moving closer to ideological divisions. "In fact, we are on the verge of entering a two-chip world," Hsu said, with the United States and its allies representing one of those worlds and China and several countries in Southeast Asia and the Middle East representing the other. , Eurasia and Africa, where China advances its technology. Countries that have traditionally relied on China's financial aid and trade deals with the country are likely to adopt Chinese standards when building their digital infrastructure, Hsu said.

Although it will happen very slowly, Hsu says this breakup is starting to feel inevitable. The government should start making contingency plans if that happens, he said: "It should be Plan B: What is our strategy in China?"

This story is part of MIT Technology Review's What's Next series, where we look at industries, trends and technologies to get a first look at the future.

[Le point] The future of the semiconductor industry in the face of a global chip shortage

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Business Industry

Plastic Scrubbers Market With Strong Focus On Industry Size, By Business Highlights, Market Segments, Growth Rate, Revenue, And Forecast To 2029

Plastic Scrubbers Market With Strong Focus On Industry Size, By Business Highlights, Market Segments, Growth Rate, Revenue, And Forecast To 2029

MarketWatch's news department was not involved in the creation of this content.

December 28, 2022 (The Expresswire) – Plastic Scrubber Market [110 page spreadsheet] Market Investment Analysis. Evaluate how companies implementing these technologies across various verticals can transform their future into major business breakthroughs. Plastic Scrubbers study lacks very useful strategic overviews and assessments, including overall market trends, new technologies, industry drivers, challenges, regulatory policies driving market growth, and key player profiles and strategies . The research includes market share analysis and player profiles such as Ershigs, Quimipol SL, Kenway Composites, Krishna PP Works, Ronak Industries, MikroPul, Augusta Fiberglass, SELIP.

Get a PDF sample report at https://www.360marketupdates.com/enquiry/request-sample/22009905.

Plastic Washers Market Overview:

The use of scrubbers to purify the gases before leaving the chimneys has a significant beneficial effect on the environment. By collecting solid particles and acid gases, the amount of various pollutants that can leave the plant and enter the environment is drastically reduced. This improves air quality and reduces the health risk of people who may come into contact with various pollutants. While the use of detergents has many positive side effects, there is still a residue left from the cleaning process whether you use wet or dry cleaning. These by-products must be disposed of safely as they can rarely be reused due to their chemical composition.
The market for plastic washing machines grew from $1 billion to $1 billion between 2017 and 2022. With a compound annual growth rate of %, this market is estimated to reach $1 billion by 2029.

The report covers Plastic Cleaning Products market size, segment size (mainly including product type, application and geography), competitive landscape, latest status and development trends . Additionally, the report provides strategies for businesses to address the threats posed by COVID-19.

Technological innovations and improvements further optimize product performance, resulting in a wider range of aftermarket applications. Furthermore, analyzing customer preferences, market dynamics (strengths, constraints, opportunities), new product launches, the impact of COVID-19, regional conflicts and carbon neutrality provide us with important insights for a deep understanding of the Plastic Washing Machine Market.

According to the type of market distribution, it can be divided as follows:

● Dry cleaning ● Wet cleaning

Application-based market segmentation can be divided into:

● Oil & Gas ● Energy Industry ● Shipbuilding ● Pharmaceutical

Major players in the market:

● Ershigs ● Quimipol SL ● Kenway Composites ● Krishna PP Works ● Ronak Industries ● MikroPul ● Augusta Fiberglass ● SELIP

Feel free to ask questions before buying report at https://www.360marketupdates.com/enquiry/pre-order-enquiry/22009905.

Market segment by region/country: –

-North America (USA, Canada and Mexico) -Europe (Germany, UK, France, Italy, Russia and Spain, etc.) -Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia, etc. .) . ) – South America (Brazil, Argentina and Colombia, etc.) – Middle East and Africa (South Africa, United Arab Emirates, Saudi Arabia, etc.)

FIVE FORCE AND PESTLE ANALYSIS:

To better understand the market situation, five forces are analyzed, including the bargaining power of buyers, the bargaining power of suppliers, the threat of new entrants, the threat of substitutes and the threat of competition. political (political policy and stability, as well as trade , tax and fiscal policy); changes). in lifestyle) Technological (changes in digital or mobile technologies, automation, research and development) Legal (labour laws, Consumer Protection Act, health and safety, international and trade regulations and restrictions) Environmental (climate, recycling procedures, footprint emissions, waste recycling and durability)

Key points of Plastic Cleaning Products Market Report:

1. A detailed overview of the market drivers, trends, restraints, restraints, opportunities, and key micro-markets of the Plastic Cleaners market. 2. A comprehensive assessment of all the opportunities and threats – An in-depth analysis of the industry growth strategies of the major players in the plastic cleaners market. 3. Plastic washers bring the latest innovations and fundamental procedures to the market. 4. Pro Inner Immersion The vibrant high tech and latest market trends are excellent in the market. 5. The Latest Conspiracy Study on Plastic Scrubber Market Growth in Coming Years.

To find out how the Covid-19 pandemic will affect this market

Summary:

1 Plastic Cleaners Market Overview
1.1 Plastic Washers Product Overview and Market Size
1.2 Plastic Washing Machines Market Segment by Type
1.2.1 Plastic Scrubber Market Comparison and CAGR (%) by Type (2017-2029)
1.3 Plastic Scrubbers Segment by Application
1.3.1 Plastic Washers Market Consumption (Sales) Comparison by Application (2017-2029)
1.4 Global Plastic Washers Market by Region (2017-2029)
1.4.1 Plastic Spool Filling Market Size Comparison (Revenue) and CAGR (%) by Regions (2017-2029)
1.4.2 United States Plastic Washers Market Status and Forecast (2017-2029)
1.4.3 Europe Plastic Washers Market Status and Forecast (2017-2029)
1.4.4 China Plastic Washers Market Status and Forecast (2017-2029)
1.4.5 Japan Plastic Washers Market Status and Forecast (2017-2029)
1.4.6 India Plastic Washers Market Status and Outlook (2017-2029)
1.4.7 Southeast Asia Plastic Washers Market Status and Outlook (2017-2029)
1.4.8 Latin America Plastic Washers Market Status and Forecast (2017-2029)
1.4.9 Middle East and Africa Plastic Washers Market Status and Outlook (2017-2029)
1.5 Global Plastic Washers Market Size (Revenue) (2017-2029)
1.5.1 Plastic Pipe Cleaners Market Status and Revenue Forecast (2017-2029)
1.5.2 Global Plastic Scrubber Sales Status and Forecast (2017-2029)
1.6 Impact of regional conflicts on the production of plastic washing machines
1.7 Impact of carbon neutrality on the production of plastic washing machines

2 Market analysis of plastic washing machines before and after recycling
2.1 Analysis of the industrial chain of washing machines for plastics
2.2 Major Raw Material Suppliers and Price Analysis
2.3 Analysis of the supply and demand of the main raw materials
2.4 Level of concentration of the product market
2.5 Analysis of the production process
2.6 Analysis of the cost structure of the products
2.6.1 Cost analysis
2.6.2 Analysis of energy costs
2.6.3 Analysis of research and development costs
2.7 Major Buyers of Plastic Washing Machines Analysis
2.8 Impact of COVID-19 on the extractive industry

3 player profiles
3.1 Access
3.1.1 Ershigs Basic information, production base, sales area and competitors
3.1.2 Product, application and specification profiles
3.1.3 Plastic Washers Market Performance (2017-2022)
3.1.4 Company overview
3.2 Hemipol SL
3.2.1 Quimipol SL Key information, production base, sales area and competitors
3.2.2 Product, application and specification profiles
3.2.3 Plastic Washers Market Performance (2017-2022)
3.2.4 Company overview
3.3 Kenway Connections
3.3.1 Kenway Composites Basic information, production base, sales area and competitors
3.3.2 Product, application and specification profiles
3.3.3 Plastic Washers Market Performance (2017-2022)
3.3.4 Business overview
3.4 Works of Krishna PP
3.4.1 Krishna PPC Basic information, production base, sales area and competitors
3.4.2 Product, application and specification profiles
3.4.3 Plastic Washers Market Performance (2017-2022)
3.4.4 Company overview
3.5 Ronak Industries
3.5.1 Ronak Industries basic information, manufacturing base, sales area and competitors
3.5.2 Product, application and specification profiles
3.5.3 Plastic Washers Market Performance (2017-2022)
3.5.4 Company overview
3.6 Microphone
3.6.1 MikroPul Basic information, production base, sales area and competitors
3.6.2 Product, application and specification profiles
3.6.3 Plastic Washers Market Performance (2017-2022)
3.6.4 Business overview
August 3.7 Fiberglass
3.7.1 Augusta Fiberglass Basic Information, Manufacturing Base, Sales Area and Competitors
3.7.2 Product, Application and Specification Profiles
3.7.3 Plastic Washers Market Performance (2017-2022)
3.7.4 Company overview
3.8 SELIP
3.8.1 SELIP Basic information, production base, sales area and competitors
3.8.2 Product, application and specification profiles
3.8.3 Plastic Washers Market Performance (2017-2022)
3.8.4 Company overview

4 Global Plastic Washers Market by Player
4.1 Global Plastic Washers Sales and Share by Player (2017-2022)
4.2 Plastic Washers Revenue and Market Share by Player (2017-2022)
4.3 Plastic Washers Average Price by Player (2017-2022)
4.4 Global Gross Margin Plastic Waste Treatment by Player (2017-2022)
4.5 Market situation and competitive trend of the Plastic Washers Market
4.5.1 Plastic Washing Machines Market Concentration Ratio
4.5.2 Plastic Washing Machines Market Share of Top 3 and Top 6 Players
4.5.3 Mergers and acquisitions, expansion

5 Plastic Purifiers Sales, Revenue, Price Trend by Type
5.1 Global Plastic Washers Sales and Market Share by Type (2017-2022)
5.2 Global Plastic Wash Machines Revenue and Market Share by Type (2017-2022)
5.3 Wastewater Treatment Plastic Price by Type (2017-2022)
5.4 Global Plastic Washers Sales, Revenue and Growth Rate by Type (2017-2022)
5.4.1 Global Plastic Washers Sales, Revenue and Growth Rate (2017-2022)
5.4.2 Global Plastic Washers Sales, Revenue and Growth Rate (2017-2022)

6 Plastic Scrubbers Market Analysis by Application
6.1 Global Plastic Washers Consumption and Market Share by Application (2017-2022)
6.2 Plastic Cleaning Products Consumption, Revenue and Market Share by Application (2017-2022)
6.3 Global Plastic Washer Consumption and Growth Rate by Application (2017-2022)
6.3.1 Global Oil Plastics Consumption and Growth Rate of Oil and Gas (2017-2022)
6.3.2 Global Plastic Washers Consumption and Growth Rate of Electricity Generation (2017-2022)
6.3.3 Global Plastic Washer Consumption and Growth Rate (2017-2022)
6.3.4 Global Plastic Pipe Cleaners Consumption and Growth Rate (2017-2022)

7 Plastic Dryer Sales and Revenue by Region (2017-2022)
7.1 Global Plastic Washers Sales and Market Share by Regions (2017-2022)
7.2 Global Plastic Washers Revenue and Market Share by Regions (2017-2022)
7.3 Global Plastic Washers Sales, Revenue, Price and Gross Margin (2017-2022)
7.4 United States Plastic Washing Machines Sales, Revenue, Price and Gross Margin (2017-2022)
7.4.1 US Plastic Washing Machine Market Under COVID-19
7.5 Europe Plastic Washing Machines Sales, Revenue, Price and Gross Margin (2017-2022)
7.5.1 European plastic washing machine market under COVID-19
7.6 China Plastic Washing Machine Sales, Revenue, Price and Gross Margin (2017-2022)
7.6.1 China Plastic Washing Machine Market under COVID-19
7.7 Japan Plastic Washing Machines Sales, Revenue, Price and Gross Margin (2017-2022)
7.7.1 Japan Plastic Washing Machine Market Under COVID-19
7.8 India Dishwashing Machines Sales, Revenue, Price and Gross Margin (2017-2022)
7.8.1 India Plastic Washing Machine Market Amid COVID-19
7.9 Southeast Asia Plastic Washers Sales, Revenue, Price and Gross Margin (2017-2022)
7.9.1 Southeast Asia Plastic Washing Machine Market Under COVID-19
7.10 Latin America Plastic Washers Sales, Revenue, Price and Gross Margin (2017-2022)
7.10.1 Latin America Plastic Washing Machine Market Under COVID-19
7.11 Middle East and Africa Plastic Washing Machines Sales, Revenue, Price and Gross Margin (2017-2022)
7.11.1 The Middle East and Africa Plastic Washing Machine Market Under COVID-19

8 Plastic Cleaning Products Market Forecast (2022-2029)
8.1 Global Plastic Washing Machines Sales, Revenue Forecast (2022-2029)
8.1.1 Global Plastic Washers Sales and Growth Rate Forecast (2022-2029)
8.1.2 Plastic Washing Machine Revenue and Growth Rate Forecast (2022-2029)
8.1.3 Plastic Washers Prices and Trend Forecasts (2022-2029)
8.2 Plastic Washers Sales and Revenue Forecast by Regions (2022-2029)
8.2.1 United States Plastic Washers Sales and Revenue Forecast (2022-2029)
8.2.2 Europe Plastic Washing Machines Sales and Revenue Forecast (2022-2029)
8.2.3 China Plastic Washers Sales and Revenue Forecast (2022-2029)
8.2.4 Japan Plastic Molds Sales and Revenue Forecast (2022-2029)
8.2.5 India Plastic Washers Sales and Revenue Forecast (2022-2029)
8.2.6 Southeast Asia Plastic Washing Machines Sales and Revenue Forecast (2022-2029)
8.2.7 Latin America Plastic Washers Sales and Revenue Forecast (2022-2029)
8.2.8 Middle East and Africa Plastic Washers Sales and Revenue Forecast (2022-2029)
8.3 Plastic Washers Sales, Revenue and Price Forecast by Type (2022-2029)
8.3.1 Global Plastic Scrubber Revenue and Growth Rate of Dry Scrubber (2022-2029)
8.3.2 Global Plastic Washers Revenue and Growth Rate (2022-2029)
8.4 Plastic Washers Consumption Forecast by Application (2022-2029)
8.4.1 Global Plastic Washers Value and Growth Rate of Oil and Gas (2022-2029)
8.4.2 Global Plastic Scrubber Consumer Value and Growth Rate (2022-2029)
8.4.3 Global Consumer Value and Growth Rate of Plastic Pipes (2022-2029)
8.4.4 Global Plastic Cleaning Products Consumption Value and Pharmaceutical Products Growth Rate (2022-2029)
8.5 Plastic Washing Machines Market Forecast by COVID-19

9 Industry perspective
9.1 Plastic Washing Machines Market Drivers Analysis
9.2 Plastic Washing Machines Market Limitations and Challenges
9.3 Plastic Washing Machines Market Opportunity Analysis
9.4 Emerging Market Trends
9.5 State of technology and trends in the plastic washing machine industry
9.6 Product Release News
9.7 Analysis of consumer preferences
9.8 Plastic Washing Machine Industry Development Trends During COVID-19 Outbreak
9.8.1 Brief description of the COVID-19 situation
9.8.2 Impact of COVID-19 Outbreak on Plastic Washing Machines Industry Development

10 research findings and conclusions

11 Appendix
11.1 Methodology
11.2 Source of study data
 

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13 Industry Experts Predict Rising Business Tech Trends Of 2023

13 Industry Experts Predict Rising Business Tech Trends Of 2023

Trading technology seems to have evolved and expanded at a staggering rate since the start of the Covid-19 pandemic. While the immediate effects of the pandemic have begun to ease, business technology continues to evolve, offering new tools and hubs that will change the way companies make decisions, communicate with customers, manage data, and more.

Knowing what to expect can help business leaders spot trends that could impact their industry and potentially increase their bottom line. Here, 13 experts from the Forbes Technology Council share their predictions for the business technology trends that will dominate headlines and CEO meetings in 2023.

1. Decision making based on machine learning and artificial intelligence

They are not new, but I think they will break new records: machine learning and artificial intelligence. Every day we receive more and more data about the world and store it. But it's getting harder and harder to read and use. Machine learning and artificial intelligence will play an important role in data-driven decision making in business, healthcare and environmental research. Five years ago, its adoption was limited, but I think that since 2020 it has become more widespread around the world. -Nadya Knysh, she

2. Smart objects

Smart objects (buildings, facilities, etc.) that constantly monitor and evaluate health, sustainability and quality of life will arrive in 2023 and will define the construction and property management industry for years to come. The ESG rules will take the development of real estate and health and safety technologies to a new level, along with the need to improve people's living standards. – Spyros Leolis, micro focus


The Forbes Technology Council is an invitation-only community of CIOs, CTOs, and CEOs of world-class technology companies. What am I entitled to?


3. Certified Data Science Business Analyst

In 2023, we will see more business analysts with data science certifications. As we move towards a future where any organization can find and connect to the data they need to use it, we will blur the line between business operator and data scientist. Data scientists will return to the business landscape, while data scientists will earn certifications in data science. -Louise Wynn-Jones, ThinkData Works

4. Digital twins

The understanding and use of digital twins will increase significantly as companies realize the potential they offer. Combined with other consensus technologies such as AI, ML, and Metaverse, digital twins can become essential and must-have capabilities for companies looking to increase the agility of their operations through technology. – Mark Brown, British Standards Institute (BSI)

5.5 grams

I expect the availability and reliability of 5G networks to increase, especially outside the US in currently lagging markets. This will have a huge positive impact on the business as many are now hiring remote team members who are often in low quality online marketplaces which inevitably impacts their work and communication with the rest of the team. -Peter Abuljolf, Mashwizard

6. Internet of Things

One of the business technology trends that will dominate is the increased use of IoT infrastructure in our daily lives. With the rise of mobile devices and the advent of artificial intelligence, more and more devices, from our home offices to cars and public spaces, will be connected and automated, creating value in new ways. -Mark Fisher, Dogtown Media LLC

7. Social commerce

Social commerce will dominate in 2023. With the proliferation of social media platforms and the rise of mobile device usage, more and more people are buying and selling goods and services through social media channels. As various social media platforms begin to create a more integrated shopping experience, consumers can make all their purchases on one platform. – Bhavin Patel, City Corporation

8. AI as a service

AI as a service will become more popular in 2023 as more and more companies integrate AI into their products and services. AIaaS includes intelligent AI tools and services that enable companies to implement and scale AI strategies at a fraction of the cost of building their own AI tools. AIaaS will help more resource-constrained organizations adopt AI at a lower cost. – Deep Day, Nosh Technologies

9. Metaverse

"Metaverse" is a generic term used by futurists to describe the "next level" of the Internet. With this new technology, we can communicate with brands and other consumers through immersive technologies, including 3D and virtual reality. We may also use our own avatars to describe our products and services. – Christian Randieri, IntelliSystem Technologies

10.Web3

In 2023, Web3 will be a utility, not a strategy. As more industries and companies discover and understand the use cases for this new wave of technologies, from tokenization for customer acquisition (such as digital collections and loyalty programs) to promising digital asset payment platforms, Web3-related technologies will become its part. . : an important decision for many companies. — Kevin Lehtinity, Fortress Web3 Technologies

11. Efficiency

We seem to be moving into an increasingly turbulent environment that will require a focus on efficiency. This commitment to efficiency will not only focus on technology choices and core competencies, but will also be reflected in business operations and people. – Bayan Ivanov, Storpool Storage

12. Composability

In many organizations, the data needed to create an enjoyable digital experience for customers is shared across multiple systems. The required integration of data or systems is time-consuming, technically complex and fragile. Gartner predicts that by 2023, 60% of companies will consider integration as one of their strategic goals. – Emmanuel Ramos, OZ Digital Consulting

13. Standardization of medical technologies

Standardization provides the necessary basis for innovation. For example, healthcare digital health predates regulatory efforts to standardize health record formats using FHIR. In 2023, this standardization will continue and the technology will be further integrated into the healthcare ecosystem. With the help of technology, we can achieve better health outcomes. – Nicholas Domnish, EES Health

Why are tech stocks falling so hard? |: WSJ

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Your Business Might Be Violating Federal Regulations Unknowingly — Which Can Cost You Serious Money. Here’s How To Avoid It.

Your Business Might Be Violating Federal Regulations Unknowingly — Which Can Cost You Serious Money. Here's How To Avoid It.

photo in insta | Getty Images © insta_photo | Getty Images insta_photo | Getty Images

Ingenuity and entrepreneurial spirit have always been important ingredients for success and growth in a competitive market. With so many challenges and considerations that entrepreneurs have to consider when starting a business, there is already something to worry about. Add regulatory risk to the matrix of business challenges and you've got a huge sum.

According to a report by the US Chamber of Commerce Foundation, federal regulations cost the US economy $1.9 trillion a year in direct costs, lost productivity, and higher prices. In addition, non-compliant businesses pay on average 2.71 times what they pay for compliance registration.

Few industries are immune to regulatory risk. According to Industry Today, manufacturing tops the list of most regulated sectors with over 200,000 regulations, and in the same report, finance and insurance are the second most regulated sectors with almost 128,000 related regulations. Other highly regulated domestic and international industries on Deloitte's curated list include healthcare, transportation, life sciences, energy, agriculture, construction, defense, and postal services.

While compliance creates headaches, rules play an important role. There are many government regulatory agencies, such as the Environmental Protection Agency (EPA), the Food and Drug Administration (FDA), the Securities and Exchange Commission (SEC), and the Federal Trade Commission (FTC), to protect consumers and equity at home and abroad. . . tax environment and encourage fair and ethical practices. But with so many regulators and policies, it's no surprise that countless companies find themselves embroiled in potential regulatory breaches.

Having the tools to avoid fines for non-compliance and avoid regulatory risks is critical to the financial health and longevity of your business. Regardless of your industry, regulatory risk is a constant threat due to robust and ever-changing policies that come at a huge cost if you are not adequately protected or fully compliant. The following methods can help protect your business from rising costs and increased risk of non-compliance.

Related: risk taking, entrepreneurial and intellectual disobedience .

Start with a solid foundation

Most importantly, make sure the people you hire embody the values ​​and character you feel are important to your business. Ultimately, compliance often comes down to trust: the ability to trust that employees will abide by and comply with the rules, and to value the protection the rules provide for consumers and end users.

Considering government regulations and regulatory risks, this principle is an important factor in your company's ability to comply with the rules set by governing bodies, especially when your employees are carrying out your company's mission and their efforts can contribute to federal regulatory compliance. rules for collaboration. generally. Policy enforcement and policy/regulatory education also helps keep employees informed of changes in regulatory standards and continue to contribute positively to your business.

Meet the conditions or risk it all

From a business perspective, your company should conduct ongoing internal audits to identify vulnerabilities and analyze areas of potential current or future risk. Building a compliance team/manager is also a great idea to make sure your business complies with the requirements given by government agencies and you don't incur their wrath.

As for fines, Chron says companies that unknowingly violate health regulations must pay a minimum of $5,000 for each violation. Up to $70,000 per violation if the company is found to have intentionally violated the rules. For small and medium businesses, this can be devastating and seem like an unequal punishment, as only a few large companies are affected by the fines.

A specific example of a regulatory breach and its cost is targeted fines in 2017 and the General Data Protection Regulation (GDPR). In 2013, Target's system was hacked and 41 million payment card accounts of its customers were compromised. Target then settled a $10 million class action lawsuit with the victims of the hack. While Target didn't abuse its customers' data, it was still a violation.

Given the strict rules and restrictions imposed by the GDPR, this cost Target an additional $18.5 million in an interstate settlement in 2017 — invariably tens of millions of dollars in fines.

RELATED: Targeted Security Breach Highlights Need for Better Cyber ​​Security

Protect your business

According to a McKinsey & Company report, traditional insurance companies and their associated policies can protect your business from non-compliance. While traditional insurance is still lagging behind in terms of issuing new policies immediately, it is struggling to keep up with rapidly changing economic and regulatory conditions.

Another option for transferring risk is captive insurance. A captive insurance company is owned by a company or company owner and is a form of self-insurance in which premiums (less claims) are retained as profits. For risks such as regulatory non-compliance, standalone insurance is particularly well suited to risk mitigation because policies can be written more broadly and adapted to address a complex and evolving threat such as regulatory risk. It can also fill in gaps in a traditional insurance policy and ensure that an exception does not prevent claims from being paid.

On the subject: What should business and government do when innovation outstrips regulation?

When growing a business in a highly regulated industry, it is extremely difficult to keep abreast of changing regulations and policies unless you have dedicated compliance experts on your team. However, not all companies are in a position to fulfill this role. Therefore, companies must follow best practices and have the resources to adequately address and mitigate risks.

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SBF’s ‘house Of Cards’ Is The Crypto Industry’s Problem Now: Morning Brief

SBF's 'house Of Cards' Is The Crypto Industry's Problem Now: Morning Brief

This article first appeared in the Morning Brief. Get your morning roundup delivered straight to your inbox Monday through Friday at 6:30am ET. customer

Wednesday, December 14, 2022

Today's newsletter is from Miles Woodland , Senior Market Editor at Yahoo Finance. Follow him on Twitter @MylesUdland and LinkedIn . Read this and other market news on the go with the Yahoo Finance app for Apple or Android . Yahoo Finance app.

Sam Bankman-Fried, founder and former CEO of FTX, has had a rough week. Bad week after bad month.

Bankman-Fried, known in the cryptocurrency world as SBF, was arrested on Monday and charged on Tuesday by three different US authorities: the Department of Justice, the SEC and the CFTC.

According to the SEC's complaint, SBF alleged that the offshore crypto exchange was a scam, or as SEC Chairman Gary Gensler put it: "The house of cards [was built on a foundation of fraud], while investors were told it was one of the safe. cryptocurrencies."

During its brief tenure as an industry star, SBF was a regular presence in Washington. According to the Justice Department's complaint, SBF, along with "other known and unknown individuals," allegedly made campaign contributions that exceeded federal limits.

It seems that FTX's business is mainly to turn something that is not legitimate into something that is legitimate.

FTX CEO Sam Bankman-Fried at a press conference at FTX Arena in Miami on June 4, 2021. (Matias J. Ocner/Miami Herald/Tribune News Service via Getty Images) © Courtesy of Yahoo Finance. FTX USA CEO Sam Bankman-Fried attends a press conference at the FTX Arena in downtown Miami on June 4, 2021. (Matias J. Ocner/Miami Herald/Tribune News Service via Getty Images)

The cryptocurrency industry wants to disrupt the traditional financial world and quickly create new rules to strengthen its position in this world.

But just as Gensler and others argue that crypto regulation is a problem for the crypto industry, this year's event also shows that the problem for the crypto industry is not a problem for the world of crypto investors. It seems that this is the outcome that the SBF – and most others – would like to avoid.

In a hearing before the House Financial Services Committee on Tuesday, John J. Ray III was asked to answer for many of SBF's sins.

And while congressional hearings are always a political spectacle (what else could they be?), the tone of Tuesday's hearing was similar to what the cryptocurrency industry has struggled with in recent years, the skeptics' notion that cryptocurrencies fulfill their promises. one thing, then you will do another.

During the trial, Wray, who had overseen the liquidation of Enron amid the bankruptcies of other companies, made it clear that he had no interaction with SBF. Ray's job was not to defend or explain SBF, but to recover as much money as possible from customers and investors.

On that front, Wray was concerned, saying Tuesday, "At the end of the day, we're not going to be able to make up for all the losses here." Serious efforts by serious lawyers lead to serious failures.

FTX Group CEO John J. Ray III speaks during a House Financial Services Committee hearing investigating the collapse of now-failed cryptocurrency exchange FTX after FTX founder Sam Bankman-Fried was arrested on US Capitol Hill in Washington, DC, on December 13, 2022. after. REUTERS/Elizabeth Franz © Yahoo Finance US FTX Group CEO John J. Ray III speaks during a House Financial Services Committee hearing investigating the collapse of now-failed cryptocurrency exchange FTX, FTX founder Sam Bankman-Fried on Capitol Hill in Washington, USA after his arrest on December 13, 2022. REUTERS/Elizabeth Franz

Since the rapid collapse of FTX, a common cry in the cryptocurrency community has been where are the authorities and where are the regulators. They arrived on Tuesday.

For years, the cryptocurrency industry has been calling for more clarity on cryptocurrency regulation. Gensler emphasized that existing securities laws are clear, convenient and affordable for the industry to follow.

Meanwhile, due to the lack of clear regulations, especially of cryptocurrencies, we have witnessed the failure of several exchanges, the disappearance of approximately two trillion dollars in market value and the theft of millions of customer funds.

Nothing has shaken faith in the global banking system or the real economy, which itself outweighs any urgent need for regulators to try (or not) to impose new rules on cryptocurrency.

Another situation the industry wants to avoid.

Check it out today

The hospitality

  • 7:00 a.m. ET: MBA mortgage applications for the weekend of December 9 (-1.9% vs. previous week)

  • 8:30 am ET: Import price index , month over month, November (-0.5% expected, -0.2% month over month)

  • 8:30 am ET: Import price index excluding oil , month over month, November (-0.5% expected, -0.2% month over month)

  • 8:30 a.m. ET: Import price index , year-over-year, November (3.2% expected, 4.2% monthly)

  • 8:30 am ET: Export price index , month over month, November (-0.5% expected, -0.3% month over month)

  • 8:30 a.m. ET: Export price index , year-over-year, November (5.7% expected, 6.9% monthly)

  • 2:00 PM ET: FOMC Interest Rate Decision (lower bound) , December 14 (expected 4.25%, 3.75% previously

  • 2:00 PM ET: FOMC Interest Rate Decision (Move) , December 14 (4.50% expected, 4.00% previously

  • 2 pm ET: Reserve balance interest rate , Dec. 15 (4.40% expected, 3.90% forward)

income

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Congressional investigation into FTX Collapse begins! (SBF, Caroline, CZ Binance and Kevin O'Leary)

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Cannabis Industry Growth Potential For 2022

Cannabis Industry Growth Potential For 2022
  • Two states will consider action to legalize cannabis in 2022, and five other states will conduct active referenda on legalization.
  • Each state has its own laws governing medicinal and recreational cannabis use, and each business must follow the laws of the industries in which it operates.
  • Hemp is still banned at the federal level, but crackdown on state-owned companies has been largely suspended and not funded by Congress, effectively shutting down these markets for the foreseeable future.
  • This article is intended for entrepreneurs who are planning to start a cannabis business and need to understand the regulations that apply in this complex and growing industry.

Each year, new hemp legislation or referendums open up new markets for the already fast-growing hemp industry. In 2022, as major northeastern states like New Jersey and New York bring adult marijuana programs online and the cost of western adult markets increases, more states will follow suit and vote for pharmaceutical or adult use of marijuana . own legalization measures.

What does the growth and expansion of the hemp industry into new states mean for entrepreneurs interested in getting involved in the hemp industry, and what are the biggest business opportunities? For many small business owners, this can be an opportunity to focus on a fast-growing international industry that is just gaining momentum.

The importance of the US hemp industry

According to industry research group New Frontier Data, the US cannabis market will reach $72 billion per year by 2030. This prediction comes at a time when marijuana remains illegal at the federal level, even though 39 states and Washington have legalized marijuana. and Washington has legalized cannabis programs for adult use (sometimes referred to as recreational cannabis programs).

As the cannabis legalization movement expands into new states, and some members of Congress are pushing for reform and even federal legalization, it looks like the cannabis industry will continue its explosive growth as new markets emerge.

Important points to remember: The cannabis industry is a multi-billion dollar business that will grow rapidly as new markets open up and more states legalize adult and medical programs.

States vote to legalize cannabis

It has been confirmed that only two states (Maryland and South Dakota) will vote on some form of cannabis legalization in the November 2022 election; However, five other states have measures that could be added to the vote.

  • Arkansas. Arkansas True Grass is collecting signatures for the enactment of the Arkansas Adult Recreational Marijuana Amendment of 2022, which would legalize marijuana use by persons 21 and older. The second measure, the Arkansas Adult Cannabis Amendment, is supported by the Arkansas True Grass group. would also allow adults over the age of 21 to purchase and use recreational marijuana and subject the state to a 10% sales tax.
  • Maryland. As one of only two states to officially pass a measure legalizing hemp in November's election, voters in Maryland have the opportunity to pass an amendment legalizing marijuana in Maryland. If passed, adults over the age of 21 may possess up to 1.5 ounces of marijuana and grow up to two marijuana plants at home.
  • Missouri. Missouri's marijuana legalization initiative, which has yet to make it to a vote, aims to allow retail sales of marijuana with a 6% tax and erase the records of residents who commit unregistered violent marijuana-related crimes have committed. In July 2022, the measure failed to gather the necessary signatures to be placed on the ballot. The measure missed more than 1,000 signatures in two out of six congressional districts.
  • Nebraska. In Nebraska, the Patient Protection Act and Medical Cannabis Regulation Act have received 180,000 signatures and await certification before voting in November. The Nebraska Medical Marijuana Patient Protection Act would allow patients and healthcare professionals to possess and use medical marijuana, while the Medical Marijuana Regulation Act would create a regulatory committee to oversee marijuana production and provide patients with a pathway to safe marijuana use. to offer products.
  • North Dakota. New Approach in North Dakota A group in North Dakota collected more than 25,000 signatures in November for a marijuana legalization measure. If passed, the measure would legalize the use and possession of up to 1 ounce of cannabis, 4 grams of concentrates and up to 500 milligrams of edibles.
  • Oklahoma. Oklahomanes for Responsible Cannabis Action seeks support of State Issues (SQ) 818 and SQ 819. 15% Sales Tax on Hemp Products. SQ 820 is the third measure Oklahoma wants for sensible marijuana laws. It legalizes marijuana for adults 21 and older and includes a 15% tax on all recreational purchases.
  • South Dakota. It is the second state to officially introduce a measure to legalize cannabis in November. South Dakota votes on South Dakota's Marijuana Legalization Initiative. The initiative aims to legalize the possession, use and distribution of marijuana for adults 21 and older.

Important points to remember: In November 2022, two states will pass measures to legalize cannabis, while five other states have collected or are collecting the necessary signatures for referendums.

Business opportunities in the hemp industry

You can think of the hemp industry simply as breeders who grow the plant, breeders who turn it into products, and pharmacists who sell those products. While these elements are central to the legal marijuana supply chain, the cannabis industry is far more complex and diverse than these companies.

Cannabis companies can be divided into two broad categories: plant stimulation companies and support companies. Here's a closer look at each company, along with some examples of companies in each category. 

Build an exciting cannabis business

Cultivation-related companies include companies that might come to mind when you think of the cannabis industry, such as: B. Growers, processors, manufacturers and pharmacies. However, there are other plant-related businesses that may not be as obvious, including trucking companies and trucking companies that move harvested cannabis and finished products from point A to point B.

  • Breeder. Breeders focus on propagating existing marijuana strains and developing new strains through selective breeding. They are responsible for developing the seeds used by breeders and identifying and propagating the highest quality genetics for future generations of plants.
  • cultivator. Farmers operate large cultivation facilities, which are usually enclosed spaces located in large buildings such as warehouses. They practice a variety of growing techniques to grow healthy, high-quality marijuana plants, which are then harvested and often sold to processors or dispensaries.
  • Breeders: Breeders such as B. Extractors are responsible for turning harvested cannabis flowers into finished products such as concentrated extracts, edibles, and topicals. Manufacturers offer a wide variety of cannabis products on pharmacy shelves.
  • pharmacies. Dispensaries are the cannabis industry's distribution hubs, functioning similarly to retail outlets in other industries. Pharmacies have different approaches to retail, but generally have knowledgeable staff who can help patients and consumers find the right products based on their needs and preferences.
  • Transport and logistics provider. Without a transportation network, the hemp industry could not survive. A fleet of trucks delivers flowers and cannabis products from seller to buyer, providing cannabis businesses with the equipment they need to keep them running. This includes direct-to-consumer shipping, which is legal in some states.

Exciting plant operations are the most heavily regulated companies in an industry already characterized by intense scrutiny. To start an exciting crop production business, entrepreneurs typically need to acquire licenses through an application process that can be time-consuming and expensive, with no guarantee of success. Processes for applying for licenses vary from state to state, but the number of licenses is usually limited, just like liquor licenses.

Some states require what is known as vertical integration, where cultivation, processing and distribution are carried out by the same company. Instead, other states use a specialization system, with licenses for each type of activity being awarded separately and often to different companies.

Cannabis Utility Company

Hemp-backed companies include all other companies in the hemp industry. These companies are designed to support plant-related businesses, but are not necessarily involved in the breeding, cultivation, processing, or distribution of hemp products. This can include professionals such as lawyers and marketers, as well as companies that make packaging or devices that can improve business processes that affect assets.

  • Professional Services. Lawyers, accountants, and digital marketers are examples of professional services familiar to businesses across all industries. They are also important to the cannabis trade. Given the significant regulatory constraints and wide range of regulations in different states, these professional advisors need to have additional expertise focused on the cannabis industry.
  • Packaging: Packaging companies rarely go directly to the factory, instead focusing on regulatory compliance, shelf appeal and branding. Packaging companies need to consider business needs, e.g. B. how to attract consumers and present company brands, as well as regulatory considerations. Colored packaging or certain branding approaches are illegal in many states.
  • Equipment: There are many types of equipment that farms need. For example, growers use large machines to extract compounds from harvested hemp flowers to create hemp oils and candles. Likewise, growers can freeze harvested flowers to preserve them during transportation.
  • Construction. Growrooms and dispensaries often need to be built in strict compliance with state laws and regulations. Therefore, there is a great demand for contractors who are familiar with the development of these plants.
  • Security. The hemp industry relies on safety for both regulatory and practical commercial reasons. On the one hand, regulators often require certain growing and distribution areas to be visible to security cameras, as well as certain lighting and area surveillance systems. Additionally, many marijuana businesses are forced to operate primarily with cash as compliance with the federal marijuana ban imposes financial constraints, making them a prime target for theft.
  • investments. With the cannabis business largely excluded from traditional financing avenues, private financiers such as venture capitalists and angel investors have entered the industry to provide financing. Family offices, private wealth management firms that specialize in servicing large investors, are common sources of funding for cannabis companies, and investors have taken advantage of this fast-growing industry. This is especially important for asset-related companies that have tens of thousands of dollars in filing fees and require significant capitalization to obtain approval.

While many people are excited about starting daycare businesses, side businesses certainly offer a lower barrier to entry. Other companies still face significant regulation compared to many non-hemp companies, but don't have to struggle through a complicated and expensive license application process.

Additionally, many spin-offs can be created by transitioning your existing business into the cannabis space or developing a new brand specifically related to cannabis. For example, with a little research and networking, a digital marketer with years of experience building websites, managing social media campaigns, and buying advertisements for clients can easily transition into the cannabis space.

Important points to remember: Assets: The hemp industry is diverse and includes a wide range of companies. Consider your existing skills and how you can enter the cannabis industry with experience.

Growth potential of the cannabis industry

There are a number of challenges facing the marijuana business that are distinct from those faced by startups in other industries. Addressing these issues in the early days of your business and creating a foundation that will allow you to grow and adapt to the inevitable regulatory changes will be key to your success in the cannabis industry.

Here are some common challenges that building a cannabis business faces and some tips on how to overcome them:

Develop the right partnerships

It's difficult, if not impossible, to make headway in the cannabis industry on your own. The partnerships you form in the early stages can make or break your fledgling cannabis business.

Scott Rader, president emeritus and founder of the CannaBusiness New Jersey Association, said how you start your business is critical to its long-term success.

"The best way to do that now is to hire a consultant who can help develop your plans with you," Rader told Business News Daily. “You need to build partnerships and relationships across the country to give your team a competitive edge: the right processes, the right [SOPs], the right safety plan. Find the right local attorney and local CPA… with cannabis experience.

Regulatory Changes

It's also likely that the rules governing your marijuana business may change as the industry is a new and evolving territory and government officials regularly work to review and revise rules and regulations. Jessica Gonzalez, a cannabis and intellectual property attorney at Bressler, Amery & Ross PC, recommends working with an experienced attorney who can think ahead.

"Given the differences in regulations across the country … the best way for people to know the requirements of their state is to have an attorney who can explain the regulations and laws," Gonzalez said. "All of us who work with hemp know that the industry is constantly changing, so as entrepreneurs we must always be ready to change." 

Banking, finance and insurance issues

Banking is a particular challenge for hemp companies: Because the federal government still considers hemp a Schedule 1 illegal drug under the Controlled Substances Act, many banks are reluctant to do business with a hemp company for fear of losing their FDIC status or to bring charges of money laundering. on "illegal trafficking in cannabis" despite the legality of cannabis: status in many states:

"In any other area, you can open a commercial bank account and name your LLC or your company whatever you want and that's not a problem," Gonzalez told your bank about what you do, but … "have molasses" or " "Cannabis" on behalf of the organization puts you on the back burner: I always recommend that those forming LLCs or companies stay away from names like this as it also hampers banking and insurance opportunities," he added: 

Marketing and Marketing Restrictions

Дзяржаўныя правілы і палітыка прыватных кампаній абмяжоўваюць магчымасці рэкламы канабіса: рэклама канабіса не толькі часта забароненая на радыё, тэлебачанні або рэкламных шчытах, але і многія мясцовыя маркетынгавыя каналы, у тым ліку Facebook, таксама робяць гэта больш жорсткім: забараняюць купляць спонсарскі кантэнт для канабіса. прадпрыемствы:

Гэтыя віды абмежаванняў азначаюць, што многія прадпрыемствы, якія займаюцца каноплямі, павінны спадзявацца на кантэнт-маркетынг і больш арганічны кантэнт у сацыяльных сетках, маркетынгавыя кампаніі па электроннай пошце і магчымасці гандлёвага маркетынгу на выставах і мерапрыемствах. Падзеі ў галіны: важныя сеткавыя сувязі і рэкамендацыі з вуснаў у вусны інструменты ў маркетынгавым наборы інструментаў кампаніі па вытворчасці канабіса. . : 

Канепі харанацум

Канабіс па-ранейшаму сутыкаецца са стыгмай, што гэта толькі частка «аўтамабільнай культуры», у той час як насамрэч пацыенты і спажыўцы канопляў паходзяць з людзей з розным паходжаннем: пазбягайце ўзмацнення стэрэатыпаў, звязаных з каноплямі, напрыклад, атмасферы галоўнай крамы або метро. асацыяцыі, якія на працягу амаль стагоддзя былі звязаны з забаронай:

Замест гэтага цесна супрацоўнічайце з зацікаўленымі бакамі супольнасці і выбарнымі службовымі асобамі, каб быць адказнымі членамі вашай суполкі: гэта не толькі дапаможа вам атрымаць неабходныя дазволы нарматыўных органаў, але і пашырыць доступ да вашых мэтавых кліентаў. .

"Будуць гістарычныя стэрэатыпы аб тым, хто такія спажыўцы канопляў", – сказаў Рэйдэр: "Мы маці і бацькі, юрысты, вытворцы аўтамабіляў. Гэта ахоплівае спектр спажыўцоў канопляў: аснова канопляў – гэта лекі, і гэта будзе доўжыцца Вельмі важна, каб людзі разумелі … навуковыя і медыцынскія аспекты галіны:

«Спажывец, хворы ці дарослы, становіцца разумнейшым і праводзіць свае ўласныя даследаванні», – дадаў ён, «Калі людзі пачынаюць задаваць пытанні, вы павінны мець гэтыя адказы».

Important points to remember: Індустрыя канопляў сутыкаецца са шматлікімі праблемамі, але, наладзіўшы свой бізнес з улікам гэтых праблем і стварыўшы правільны план і партнёрства, вы зможаце іх пераадолець:

Пачніце працу ў прамысловасці канопляў

Адкрыццё новага бізнесу ў галіне вытворчасці канопляў падыходзіць не кожнаму, і гэта патрабуе шмат цярпення, часу і грошай: Простае атрыманне бізнес-ліцэнзіі можа запатрабаваць значных інвестыцый: у гэтым выпадку вырошчванне канопляў патрабуе нерухомасці і эксперта каманда батанікаў: Каб ваш ураджай атрымаў максімальную аддачу: Тады трэа знайсці партнё і і н н з завгhlen

Тым не менш, можна справіцца з любой прадугледжанай праблемай: як вы даведаліся вышэй, пры правільным супрацоўніцтве вы атрымаеце патрэбную каманду, якая падтрымае вашу мару: і з некаторымі разумнымі метадамі складання бюджэту, фінансавы бок адкрыцця бізнесу будзе падрыхтавана для тых, хто толькі пачынае: але ваш бінес тачы і і юрацуе, юрадпрымалearch мос ц пough мя с і с і м м м э э:

Ці варта інвеставаць у акцыі канопляў у 2022 годзе:

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Business Industry

Its Isaac Larians 43rd Christmas In The Toy Business. Heres What Hes Betting On This Year

Its Isaac Larians 43rd Christmas In The Toy Business. Heres What Hes Betting On This Year

Toy company CEO Isaac Larian has made his fortune in the toy market over the past four decades by knowing what kids want to play with. Your job now also requires knowing what the big kids want to play with.

The founder and CEO of MGA Entertainment says that "kidding," the tendency for adults to increase demand for certain games, is one of the main reasons his company hopes to do so well with The 43rd Birthday Games.

Larian, who founded his first toy company in 1979, has seen the industry change from the time when Christmas toy sales relied on TV commercials scheduled a year before Christmas to today, when toy launches are announced on TikTok and appropriate viral videos. . Become a bestseller within hours.

The fourth largest toy company in the world and the second largest privately owned toy company after Lego, MGA is known for many businesses that include the innovative range of Bratz dolls, LOL Surprise dolls and accessories and the new line of Rainbow High dolls. . The company owns the Little Tikes brand of outdoor toys and vehicles.

This holiday season, TikTok's trend for adults creating and playing with miniature products and cooking complete miniature meals inspired MGA to create a line of toys that allow consumers to make shakes, pies, cakes, and other desserts. Based on the mini-pitch. links. which freezes after the completion of creation.

Small food containers contain items such as a small jar of whipped cream that can actually make a proper dollop of whipped cream, as well as cups, plates, and small containers for displaying the creations. One of the collections was launched at Walmart CDT This month.

MGA has also cemented the mini-toy trend made famous by Moose Toys Shopkins and toy maker Zuru earlier this year with the release of mini-versions of Bratz and Little Tikes.

According to Larian, MGA excels in the small space by creating functional and practical mini versions of games.

While he expects the mini-games to be popular with little ones, Larian is betting that most of the sale will be fun collectibles for older kids.

"Grown children are the driving force in today's toy business," he said.

He said that the income of adult children is higher than that of children. Millennials are nostalgic for the toys they played or dreamed of as kids, like Bratz dollhouses or Little Tikes basketball hoops. Mini versions of these games give them something to collect and view or play on TikTok.

Nostalgia for Bratz, the toy line that made Lorient famous in the toy industry, peaked this year and boosted MGA sales.

According to Larian, the brand turns 21 this year, a milestone on the anniversary of the doll's launch, and Bratz sales are up 100% this year.

TikTok has also helped promote the Bratz brand, with various challenges popping up to dress up like a Bratz doll, put on makeup like a Bratz doll, or see what you look like with a Bratz filter applied to your photo.

Bratz's TikTok was a game promoter's dream: content generated organically by TikTok users, not corporate marketers.

Larian founded his first toy company in 1979 called Surprise Gift Wagon. He then acquired the rights to sell miniature electronic versions of Nintendo games and changed the company's name to Micro Games of America. Later, when he came up with the idea for a doll called the Singing Bouncy Baby and a Walmart customer told him that no one would buy American Micro Games dolls, he changed the name back to MGA in 1996.

It turns out that adding entertainment to the title was visionary. The main manufacturer of toys, Hasbro she was Mattel not shiny Lego has pursued films and other entertainment activities associated with its brands in recent years. MGA got into the world of entertainment early on, making Bratz cartoons and movies. The company announced last month that it is taking its entertainment plans to the next level with the launch of its own content studio, MGA Studios. As part of the launch, MGA Pixel acquired Zoo0 Animation, an Australian animation studio.

"We've been in the entertainment business since the beginning, before it was great for game companies to call themselves entertainment companies," said Lorian.

In addition to taking advantage of current trends, Larian believes that MGA's selection of games in a wide price range gives it an advantage this Christmas, as inflation can affect Christmas budgets. Miniverse Bratz Little Tikes dolls and figures sell for under $10, and branded toys like LOL Surprise range in price from $5 to $200 for a large group.

Larian said that going private gives MGA more flexibility to cut costs.

"Our spending on food has increased by 23%, but I want to make sure that every kid who wants an MGA game or every family that wants an MGA game for the holidays can buy one," she said. . “So we didn't pass a lot of the increased costs onto consumers. We absorbed a lot of that. And that's the luxury of being private because you don't have to report your earnings every quarter.”

Unlike the past two Christmases due to the pandemic, Larian expects parents to go shopping later this month.

Last year, consumers bought games in October or November because they thought stores would run out. And now they are waiting, as before, two weeks before Christmas.

The toy industry, where the pendulum has shifted from supply chain shortages to surpluses for some brands in the past two years, is "going through a really big adjustment" this year, Lorient said.

But he sees the trick with the optimism that comes from 43 years in the gaming business.

"Christmas is always December 25th and I tell my retail customers they will always come," he said. “Some years have a few months, like last year. This year, I think it will be the last two weeks before Christmas.”

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Business Industry

Whoa, How Much? CA’s Canabis Industry Owes A QuarterBillion Dollars In Back Taxes

Whoa, How Much? CA's Canabis Industry Owes A QuarterBillion Dollars In Back Taxes

© Courtesy of Benzinga

The California marijuana industry owes the state a quarter of a billion dollars in unpaid taxes.

According to a Green Market report, the hemp industry "cumulatively received $250,410,890 in unpaid cannabis sales and taxes, out of $4.4 billion in total taxes paid."

The report includes data from the California Department of Revenue and Revenue (CDTFA).

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Tax attorney Regina Unegowski said the amount owed to marijuana operators "could easily double when fines and interest are factored in."

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It is not clear from this data how much or which marijuana companies in the Golden State owe CDTFA money. December

According to the Green Market Report, San Francisco Bay Area grower Grizzly Peak "owes the state $13.5 million even though the principal was only $6.8 million in taxes."

Jared Killa , president of the United Hemp Business Association (UCBA), stated that the industry's tax arrears and "future taxes" could exceed $1 billion.

“If (CDTFA) has that much debt… it’s even worse than the licensing side of the debt bubble,” he added.

House Bill 195, which Gov. Gavin Newsom signed into law earlier this year, removes the state marijuana tax and shifts the excise tax from distributors to retailers from January 2023.

Good Farmers Great Neighbors and Precision Advocacy kiosk sales account for three-quarters of all weed sales in the Golden State, according to a recent study by the Reason Foundation.

Illicit sales are a concern for some big players in the California market such as Curaleaf Holdings, Inc. (OTCQX: CURLF), Green Thumb Industries (OTCQX: GTBIF), Trulieve Cannabis (OTCQX: VRNOF), Columbia Care Inc. (OTCMKTS: CCHWF), Ascend Wellness Holdings, Inc. (OTCQX: AAWH) (CSE: AAWH.U), TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) and Jushi Holdings Inc. (OTC: JUSHF).

Get your daily dose of cannabis at Benzinga Cannabis. Don't miss out on important industry opportunities.

Photo of John Tyson via Unsplash

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