In this episode, Erik Range from Minorities for Medical Marijuana and Charles Wu join us on Agrify Live. M4MM's mission is focused on providing advocacy, outreach, research, and training as it relates to the business, social reform, public policy, and health/wellness in the cannabis industry. Learn how your business can make an important impact by incorporating policies that are geared towards social equity.
Social Equity in Cannabis:
Minorities specifically were arrested for cannabis consumption and participated in the legacy market that made it legal today - people are now starting businesses, being applauded, making lots of money, and called entrepreneurs for the same thing minorities are/were being arrested for.
Social equity is not a handout. Most candidates are equally qualified if not more qualified.
A large proportion of cannabis consumers are minorities. For your brand to resonate with your consumers, we need more black employees because they understand the needs of black communities.
There is a larger opportunity to make sure we are diverse in all aspects of companies that are not minority based - it's important to hire enthusiastic and qualified people whether they are a minority or not.
There is a distinct disadvantage of finding your own work and disproportional incarceration - it is crucial to remove barriers to entry and allow minorities to know how to get in the market.
Access to capital is a big hurdle, finance is one of the biggest hurdles for everyone, there is no shortage of good ideas and products but there are no funds to do so.
M4MM provides technical assistance in training (bootcamps) in all aspects of business to improve peoples chances of success.
The cannabis industry has the opportunity to take advantage of their newness and foster diversity because different ideas and perspectives produce better results.