In the past few years, the use of hemp for industrial product making is growing at a rapid pace in the United States. There is a common misconception that growing help is illegal. However, that is not the case.
While Hemp and Marijuana both come from the Sativa Cannabis plant, the psychoactive substance (heady or high feeling), called THC is present in negligible amounts in the hemp plant. The THC percentage is much higher in the Marijuana plant, where it varies from 7% to 20%.
In this article, we are going to look at five new and profitable businesses you can start using the hemp plant. However, before we do that, let us briefly look at what really is Industrial Hemp.
Industrial Hemp: History, Farming and Production
The hemp plant is a very useful plant, which grows is large numbers naturally in the American countryside. It is a really sturdy plant, which does not require a lot of care. This makes it resilient to harsh climatic conditions, including severe cold or high temperatures. This has led to the emergence of several reputable businesses in the niche
For a very long time in history, our forefathers were using hemp because of its wide applications. Historical use of hemp dates back to hundreds of years, in different civilizations all over the world. The plant fell out of use when it was clubbed together with its infamous sibling, marijuana.
Coming from the same Cannabis Sativa, it garnered a not so healthy reputation. However, in the past few decades, scientists have educated the masses. This along with the push of several entrepreneurs for sustainable living has once again brought back hemp use and production into the mainstream.
List of 5 Profitable New Businesses you can start with Hemp
You do not need to manufacture or produce hemp to start a business. You can always take help from a great hemp processing company to do the following businesses-
Hemp Paper Products-
We all know how a majority of the world’s paper is created by taking help from deforestation. Many new and enterprising startups have now turned to hemp to produce paper. It is much more organically friendly, requires less investment and has great societal impact. This is not only a responsible business but one that is highly profitable.
Clothing and Textile-
Many are unaware that our ancestors used hemp fibres to make clothes and different textiles required for daily living. It is far cheaper to create clothing from hemp than it is to do so from other naturally occurring fibres. Hemp is also a very sturdy and rugged fabric and can be used to provide solutions for industrial workwear.
Right now almost all homes use wood and timber for insulation needs. However, the same is expensive, non-durable and can require a lot of investment in terms of starting a company. Hemp on the other hand has the exact same properties, if not better to wood. Most importantly, you half to invest half of what you would if you were setting up a wood insulation company.
Cords and Ropes-
When it comes to comparing the tensile strength of hemp fibres to jute, the former simply outperforms the latter. Hemp fibres are easily available and are less expensive to source than jute. You can create hemp ropes and coils for both industrial uses as well as home use. Many designers are also experimenting with the same to create artwork.
The world is slowly waking up to the benefits of CBD in different medical issues. If you are working with a company who manufactures hemp, you can easily start a line of CBD products. Their use is increasing every day as a form of pain relief, in the pet industry and cosmetics. Some of the biggest companies in the world are now experimenting with CBD products.
The Final Word
Now is the perfect time to start a hemp-based business in America. The market is ripe and the big players are still treading on lose ground. Can you think of some more industries or businesses, which can be started by processing hemp? Let us know in the comments section below.