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Despite the fact that more and more states are passing laws to legalize marijuana for both medical and recreational use, there are numerous legal obstacles that marijuana businesses face. At the outset, all marijuana businesses operate with the fear of federal prosecution. While individual states may have legal marijuana, the federal government still regards it as a Schedule I narcotic drug, and considers the sale, use, and possession to be illegal.

In addition to the concern over federal prosecution, local and state laws tend to require marijuana business operators to cut through quite a bit of bureaucratic red tape before opening up shop. While the red tape may seem like a hurdle that can be easily overcome, local permitting often requires the payment of hefty, cost-prohibitive application fees, as well as lengthy processing times, that make setting up a marijuana business even more cost prohibitive.

Whether you're just starting your business, or you've been in operation for years, developing a business line of credit could be the most critical step in taking your business to the next level. While many business owners finance their businesses using their personal credit, business lines of credit can be vastly larger and superior to those offered to individuals.

The big question that many small business owners ask is: How do I establish credit for my business? Below you'll find the three steps you need to take to establish business credit.

It's a long road building your business from the ground up. When the time comes to grow, entrepreneurs often seek funding from third parties, including friends and family, banks, venture capital firms, and anyone else who might have deep pockets. However, getting funding can be wrought with legal pitfalls. Until recently, an entrepreneur was not allowed to publicly solicit investments into their business. However, now that we are in the era of crowdfunding, the rules have changed.

With the JOBS Act, rules were devised for businesses that wanted to utilize crowdfunding. Also, the the JOBS Act provides rules on solicitation and details about who qualifies as as an accredited investor changed.

Venture capital funding for new drone startups is no longer on the rise. Despite the fact that the new FAA regulations that went into effect this past August provide certainty for companies looking to utilize drones, since the regulations were announced, drone startups have received less and less funding. Shockingly, from the second to third quarter this year, drone funding plummeted by by half.

According to MarketWatch, funding for drone companies has fallen by 59 percent since last year. In the second quarter of this year, $106 million was invested in 13 different deals. However, in the third quarter of this year, there was only $55 million invested into 8 different deals. For the companies that make drones, especially ones that are just starting up, this news is frightening.

A few months ago, the Obama Administration announced efforts to crack down on predatory payday loan companies, attempting to impose some of the underwriting requirements and lending restrictions as regular loans. Payday lenders, the Consumer Financial Protection Bureau said, take advantage of consumers by giving them short-term loans with astronomical interest rates, then charge penalty fees and threaten bank account closures and vehicle seizures if customers can't pay.

And it seems like even the "good guy" payday lenders are behaving badly. San Francisco-based LendUp has agreed to pay $6.3 million in fines for charging customers illegal fees, miscalculating interest rates, and telling customers that borrowing from LendUp would boost their credit score.

If you're struggling to save money and survive, you are not alone. Many of the country's small businesses are essentially living month-to-month.

A new study from the JPMorgan Chase Institute showed that the average small business has just 27 days worth of cash reserves. So what is life like for small businesses living on the financial edge?

It's 2016, so you would think female entrepreneurs would have the same access to small business financing as their male counterparts. But recent studies have shown that women are less likely to get business credit than men, and when they do, they often ask for and get less in loans than men.

So how can female entrepreneurs close the small business lending gap? Here's a look at some small business loan and grant options for women.

We hear a lot about the Ubers, the Airbnbs, and the Snapchats, privately-held tech startups valued at over $1 billion known in the industry as "unicorns." But not every startup ends well. And one story that surfaced recently tells the tale of a startup going down in flames.

A marketing professional relocated from Dallas, Texas to Silicon Valley to chase a startup dream. But from her account of a month on the job, she lived closer to a startup nightmare.

When you own a small business, it's all about income. A classic shop or store may have profits from sales or service. A startup may have venture capital money coming in. In either case, you might need to get a little more creative with your revenue streams. Individuals and investment funds can make money off the stock market, so why not your small business?

But before you start day trading with company funds, here's what you need to know about your small business investing in stocks.

Your small business isn't located in London. You don't have clients in Northern Ireland. Heck, you don't even know anyone in Scotland, and the closest you've come to Wales was seeing Shamu at Sea World. But if you're thinking that means last week's Brexit referendum won't have an impact on your operations, you may want to think again.

Many financial market observers are seeing an indirect impact on small business, not in sales but in small business lending. So will Britain leaving the EU leave your startup or small business without the funding it needs?