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Study Finds 19 Percent of Cannabis Businesses are Owned by Minorities
Author: Addison Herron- Wheeler  14/09/2017 - 22:14:00

Many have been critical of the cannabis industry, claiming that minorities aren’t given the same opportunities to participate and manage cannabis businesses. However, according to Marijuana Business Daily, a new survey shows exactly how many minorities hold positions of power in the cannabis industry. 

According to the surveys, those who gathered the data feel that the cannabis industry is definitely dominated by those of European descent, but not to the level that many may believe. After surveying 389 cannabis business owners, results revealed that 19 percent of the people who own or launched cannabis companies are minorities, defined in the survey as Hispanic/Latino, African American, Asian and “other.” Still, and estimated 81 percent of cannabis business owners are white. 

The results of the survey also offered additional insight into this trend. California, for instance, was the area with the most cannabis businesses owned by minorities, with an estimated 40 percent of businesses reported to be owned by minorities.

According to the Minority Cannabis Business Association’s Co-Founder Jesse Horton, the percentage of minority run businesses are higher than expected. “But the numbers are still encouraging because we all had that feeling that it may be a higher than the one percent that had been reported and repeated over and over again,” he told MBD. Still, Horton knows all too well where the areas of weakness are. “The biggest need and the biggest disparity and the biggest outrage has been the licensing process and the ability for small businesses to first get into the market, and then to survive after dealing with large taxes, huge licensing fees or all these other things that we fear are shaping up in opposition of minority entrepreneurship.”

It appears that although overall perceptions are right and people of color are definitely not the majority or equal owners of cannabis businesses or leaders in the industry, there are more minorities involved in upper-level positions than many people think. Especially in diverse areas like California, representation is appearing to be closer to equal. Hopefully, this number will continue to grow as more businesses open and an effort is made to encourage diversity in the industry.

The post Study Finds 19 Percent of Cannabis Businesses are Owned by Minorities appeared first on Culture Magazine.

Original article from ireadculture:Study Finds 19 Percent of Cannabis Businesses are Owned by Minorities


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