BARRIERS TO ENTRY IN THE LEGAL MARIJUANA INDUSTRY FOR MEN OF COLOR
There have been and continues to be several articles, blogs, podcasts and other venues speaking to the wealth…
The cannabis industry is the fastest growing industry in America and the laws are changing rapidly, which means that a client’s needs can change as fast as the industry matures. Now more than 33 states have legalized cannabis for either medicinal or recreational consumption. The industry is already a multi-billion-dollar industry, however only 19% of the market is represented by Minority business ownership of that, only 1% is represented by African-Americans. However, many have not gotten started due to the lack of access to capital, business development and the right connections in the industry. With this backdrop, our firm supports Minority business ownership by offering solutions to help alleviate these barriers.
As more entrepreneurs and businesses enter or expand into the cannabis space, they face the traditional business challenges of operational efficiency, regulatory compliance and market penetration. In addition, most don’t have access to the traditional capital needed in order to start or expand a business in this industry because marijuana is still federally illegal.
Our highly experienced and dedicated team of professionals represent a diversity of perspectives. Their combined cross-functional expertise helps to enhance your organization’s board performance by partnering with board members to proactively plan director and CEO succession, review board effectiveness, design and implement best-in-class corporate governance processes, and assess board culture and values.
Our reputation throughout the legal cannabis industry is well known by our referral network, clients, and extensive relationships throughout the lending community.