What the Farm Bill's Hemp Legalization Means for Small Business

On Dec. 20, President Donald Trump signed the 2018 Farm Bill, an annual piece of legislation that governs regulations and funding across the entire agriculture industry of the U.S. Naturally, such a bill has sweeping effects that have significant implications on both the U.S. economy and food production. This year, however, there is one measure that especially stands out: federal hemp legalization. With the federal government's full legalization of hemp, a previously marginalized industry is opening for free interstate commerce. What does that mean for entrepreneurs looking to get into the space, as well as those who could benefit from a wider availability of hemp-derived products? Here's a brief look at hemp's history in the U.S., as well as what its newly legalized status means for small businesses.