Despite challenges facing CBD, startups and investors shouldn’t be discouraged from the hemp medical market, according to Rebecca Kruse, CEO of Dusseldorf-based HempConsult GmbH.
While studies have repeatedly demonstrated the efficacy of CBD, current laws and regulations are still barriers to the medical sector of the hemp industry, she noted. “But for us, this is no reason for discouragement but for further studies and commitment in governmental and public discussions,” Rebecca said, noting CBD’s potential to help those who suffer from diseases such as epilepsy, dystonia and schizophrenia.
Market ‘booming’
Along with the current interest in CBD, Rebecca describes the overall hemp market as “booming” with the numbers of farmers, producers, distributors and retailers coming on line in a steep rise. While those sectors also face legislative and regulatory challenges, she doesn’t see insurmountable hurdles anywhere in the industry.
All the action has HempConsult, a broad-based industrial hemp adviser, very busy these days. HempConsult, which offers guidance on everything from farming and organic certification to legal and tax issues, has its genesis in in the long-standing know-how of Hempro Int. GmbH & Co. KG, a vertically-integrated hemp company that has had operations in Europe and China since 2002. Gaining experience with that startup gave Rebecca and her business partner, Hempro Int. Managing Director and founder Daniel Kruse, a solid base of knowledge, contacts and experience.
Global reach
Growing interest in hemp products is fueling an increase in the number of farmers, producers, distributors and retailers, Rebecca said, and the hemp industry is a magnet for environmentally and health conscious entrepreneurs and investors.
HempConsult has a global client roster of established hemp players. But the company also works with startups. She encourages new initiatives, but has strong advice to those who want to get into the industry. “An experienced partner is highly valuable for the success of young entrepreneurs, especially in the hemp business,” she said. “The pioneers of hemp invested millions and millions of dollars to get to the status quo. With good consulting and market research newcomers can save themselves early-stage-losses.”
Family business
Despite HempConsult’s global reach, the company itself is a tight-knit unit that has evolved down through the years into more and more of a family business, Rebecca said, with couples, siblings and close friends working in the company. “That makes work much easier, relaxed and more successful in many cases. We work hard to separate private and work-related issues — that’s immensely important for work-life balance,” she said.
HempConsult GmbH
CEO: Rebecca Kruse
Founded: 2012
Headquarters: Dusseldorf
Profile: Complex services for all aspects of establishing hemp businesses.
Edge: More than 20 years experience; strategic partnership with Hempro Int. GmbH & Co. KG, established international player.
