Cannabis businesses have transformed from clandestine ventures to glossy lifestyle brands in a matter of years, thanks to an evolving regulatory and business landscape.
The majority of states now have some form of legalized cannabis, whether for medical or recreational use. The 2021 U.S. cannabis market is valued at $33 billion, according to an analysis by market research firm Grand View Research. That number is forecast to balloon to $84 billion by 2028. These trends indicate a fertile environment for seeding a new cannabis venture.
But while the cannabis world continues to expand, the industry remains overwhelmingly white and difficult to break into for people of color and LGBTQ individuals. A 2017 survey from Marijuana Business Daily found that 81 percent of cannabis business owners and founders were white. The proportion of Hispanic/Latino owners and founders was 5.7 percent, while 4.3 percent were Black, and just 2.4 percent were Asian.
To help spur greater diversity, here’s how people of color and LGBTQ individuals can spark their careers in cannabis.
RECLAIMING CANNABIS
Cannabis has been both a weapon against and a balm for racial minorities and LGBTQ individuals.
Communities of color continue to be disproportionately policed for marijuana offenses. Black people are 3.6 times more likely than white people to be arrested for marijuana possession, an April 2020 report from the American Civil Liberties Union found. And during the AIDS crisis, cannabis was…
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Cannabis businesses have transformed from clandestine ventures to glossy lifestyle brands in a matter of years, thanks to an evolving regulatory and business landscape.
The majority of states now have some form of legalized cannabis, whether for medical or recreational use. The 2021 U.S. cannabis market is valued at $33 billion, according to an analysis by market research firm Grand View Research. That number is forecast to balloon to $84 billion by 2028. These trends indicate a fertile environment for seeding a new cannabis venture.
But while the cannabis world continues to expand, the industry remains overwhelmingly white and difficult to break into for people of color and LGBTQ individuals. A 2017 survey from Marijuana Business Daily found that 81 percent of cannabis business owners and founders were white. The proportion of Hispanic/Latino owners and founders was 5.7 percent, while 4.3 percent were Black, and just 2.4 percent were Asian.
To help spur greater diversity, here’s how people of color and LGBTQ individuals can spark their careers in cannabis.
RECLAIMING CANNABIS
Cannabis has been both a weapon against and a balm for racial minorities and LGBTQ individuals.
Communities of color continue to be disproportionately policed for marijuana offenses. Black people are 3.6 times more likely than white people to be arrested for marijuana possession, an April 2020 report from the American Civil Liberties Union found. And during the AIDS crisis, cannabis was…
