MJBizMag January 2021 - 15

In Illinois, for example, entrepreneurs
and businesses that qualify as social
equity applicants are awarded extra
points on applications for dispensary,
craft grower, processing and transport
licenses. They also can receive
technical support, reduced license and
application fees and access to lowinterest
loans.
Some of the applicants were directly
impacted by anti-marijuana laws or
live in communities disproportionately
impacted by the war on drugs. Other
applicants must be committed to hiring
most of their employees from such
neighborhoods.
When Illinois first launched its program,
many in the industry believed
the plan could become a template for
social equity initiatives in other states.
But the first retail licensing round is
mired in litigation amid allegations
of an unfair process after only
21 applicants qualified for 75 new
retail licenses.
Another big hurdle facing social
equity applicants and small businesses
in general is financing. Without
cannabis banking reform, marginalized
groups and small businesses likely
will continue to struggle to access the
capital needed to start and expand
new business operations.
Vermont's adult-use market might
be one to watch in terms of trying
to balance in-state and out-of-state
interests without having a specific
residency requirement. Multistate operators
there hold three of five existing
vertically integrated medical cannabis
licenses in a state that prides itself as
having a " Made in Vermont " ethos.
But small, homegrown businesses
could flourish as well: Vermont's
adult-use marijuana law allows each
licensed company to operate only one
marijuana retail storefront.
There are no easy answers to
ensure that small businesses run
by residents can participate fully in
the marijuana industry. As such, the
dilemma is no different than trying to
nourish local businesses in any retail
industry.
But because of marijuana's unique
history with the war on drugs, it's
paramount that regulators and industry
leaders continue to try.
Jeff Smith is a reporter covering
politics and regulations for Marijuana
Business Daily and Marijuana
Business Magazine.
Let Yamato scale your cannabis business.
Combination Scales · Multi-Point Depositor · Checkweighers · Commercial Scales · Industrial Scales
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MJBizMag January 2021

Table of Contents for the Digital Edition of MJBizMag January 2021

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