CBD providing a boost to Exeter’s economy
Like most towns and cities around the UK at the moment, Exeter’s economy is going through a tough period. Lockdown caused many local businesses to close, many of which were never able to re-open. In times like these, it’s important to become innovative and find new markets to get the economy going again.
One potential product is CBD. 2020 has been a cause of stress and anxiety for so many people, who are now looking for ways to boost their physical and mental wellbeing. CBD has been proven to do just this and many stores are opening up in Exeter to bring this product to the mass market while creating jobs for locals.
What is CBD?
The hemp plant grows naturally and contains hundreds of chemical compounds. You’re probably thinking of hemp as the plant that can be smoked to get you high but this isn’t quite true. There’s only one chemical compound that produces a high: THC. When the amount of THC is more than CBD, then this isn’t hemp at all, but cannabis.
Hemp contains more CBD than THC and if the THC levels are below 0.2%, then it can be legally grown and sold in the UK. The CBD within the plant can then be extracted and sold as oil or a food supplement capsule. Research suggests that taking this substance on its own has a number of health benefits, including relieving pain and lowering anxiety levels.
For more information, visit Cibdol.com.
Hemp Stores in Exeter
Despite its legality, you won’t find CBD in most shops or supermarkets. This has led to a growth in hemp stores which exist to sell legal hemp products. They may be called cannabis shops but rest assured that a legitimate and licenced retailer won’t sell anything illegal.
If you’ve walked through Exeter city centre, you may have noticed the emergence of such stores. For many people, it can come as a shock as these retailers appear to be promoting illegal drugs. Often the police are called to investigate. However, the police always reach the conclusion that these are legitimate vendors selling a safe and incredibly healthy product.
Economic Boost
Exeter’s embrace of CBD should be celebrated as giving a boost to the local economy. Every new store means jobs for local people, from shop staff and cleaners to decorators and marketers. Such businesses should be applauded.
The UK’s CBD market is already worth £300 million but this figure is rising rapidly. Despite the setbacks caused by lockdown, this will be a £1 billion market by 2025. Over the next decade or so, that could mean many thousands of jobs for people who may otherwise have been unable to find work.
Exeter is proving itself to be a progressive and entrepreneurial city. Local businesses are able to spot a good money making opportunity and take advantage. Not only is the CBD market set to bring millions into the UK’s economy but it will also improve the general wellbeing of the population by lowering anxiety, improving sleep, and boosting productivity.
Image credit: Elsa Olofsson / https://cbdoracle.com/
