MJBizMag March 2021 - 58

Doing Good
CHALLENGES TO CANNABIS INDUSTRY PARTICIPATION
What are the Biggest Barriers to Ownership in the Cannabis Industry?
Access to startup capital
Obtaining real estate or a physical location
Complexity of regulations
Caps on the number of available licenses
Skills and knowledge required to run a business
Regulations prohibiting certain people from participating in the industry
Neighborhood resistance
Residency requirements
Other
0 10% 20% 30% 40% 50% 60% 70% 80%
What Would Help You Advance Your Employment, Ownership or Career Opportunities
in the Industry?
Information on how to access capital
Training in best industry practices
Knowledge such as business-plan development or accounting
Information on identifying or obtaining real estate or property
Training in how to navigate the licensing process
Other
10%
20%
30%
40%
50%
Source: Survey of more than 300 business leaders, industry employees, social justice advocates and government staff, as prepared by Analytic Insight for the Department of Excise and Licenses, City and County of Denver.
throw money at the issues, " Senter said.
They can also leverage their resources
such as partnering on workforcedevelopment
programs and training
opportunities.
GETTING ON BOARD
Before starting its social justice fund,
Hawthorne reached out to community
organizations to help understand where
the firm should focus its efforts. The
Port Washington, New York-based
company also held meetings with
business leaders to understand their
level of interest and areas they wanted
to address, Herrington said.
" The success of any type of
community-outreach program (relies on)
58 Marijuana Business Magazine | March 2021
making sure that you have the buy-in
internally from the people within your
company, " Herrington said.
" It's also talking to everybody within
the company, even informally, just to
understand their thoughts, " he added.
" 'Getting that feedback helped inform
the program that we wanted to put
together. "

MJBizMag March 2021

Table of Contents for the Digital Edition of MJBizMag March 2021

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