Is There a Solution to the Cash Crunch?
While the past few years have been no picnic for companies struggling to turn a profit, it looks like 2023 could be the most challenging year yet. A triple threat of high-interest debts, inflation, and overdue taxes is looming over some entities, which will have to make difficult decisions in order to survive. Meanwhile, consumers across the country continue to zig-zag between illicit and legal markets, hampering the anticipated growth of the industry from coast to coast. Mergers and acquisitions (M&A) slowed dramatically in 2022, and with ongoing reports that access to capital has all but dried up across the United States, the trend likely will persist. After a record $10.3 billion in M&A deals in 2021, 2022 saw only $3.2 billion in deals, according to New York-based Viridian Capital Partners. While larger, vertically integrated companies surely will snap up distressed assets this year, smaller and less well-capitalized businesses may simply fold or mothball their operation...