Conventional wisdom at the end of 2019 was that a wave of shuttered businesses was coming. With 2021 in spitting distance, it’s pretty clear this year will be remembered as performing if not miracles, then opposite of expectations.
So, why did the failures fail to materialize?
MJ Biz Daily
- Factors primary to the industry’s unexpected performance included it being deemed essential, sales resulting from federal stimulus payments for unemployed workers, investors leaning into bets to survive 2020, and “likely interplay” between traditional and licensed operators.
- According to California records, as of Aug. 7, active business license totals were up in every category over 2019, excepting manufacturer licenses, which dropped from 976 in August 2019 to 937 active permits. Active licenses total 9,174.