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Is the Cannabis Trade a Pathway to More Women-Owned Businesses?

Is the Cannabis Trade a Pathway to More Women-Owned Businesses?

April 09, 2021

Cannabis is in the midst of a major transition. Once an illegal substance exclusively traded on the black market, cannabis is now the basis of a highly lucrative industry. A market projected to generate $25 billion in annual revenue by 2025.

But cannabis’s long-time status as an “illegal drug” has stigmatized the trade. And this unfortunate perception has led many in the mainstream business world to ignore commercial cannabis sales, despite its enormous economic potential.

However, the mainstream’s cold shoulder has opened the door for groups previously marginalized in the business world, which includes women.

The Plight of Upwardly Mobile Women + The Inequity They Face in The Working World

Issues such as pay discrepancies and ownership and leadership inequities have traditionally disadvantaged women in the workforce.

Here are some very telling illustrating the struggles women face in their efforts to rise in the professional ranks…

  • Women, on average, earn nearly 20% less than their male counterparts.
  • Only about 15% of all US businesses are women-owned.
  • And only 8% of Fortune 500 companies are led by women.

Women In The Commercial Cannabis Trade

Despite the factors that show women at a disadvantage in most professional settings, there seems to be a different trend in the cannabis trade. At least according to recent statistics provided by the Cannabis Consumers Coalition (CCC).

The CCC says that women make up 36% of cannabis business owners, leaders, and executives. And the number of women in cannabis business leadership roles appears to be steadily rising.

Additionally, a growing number of women celebrities are partnering with cannabis companies or are launching their own cannabis product lines.

These growing ranks include Jane Fonda, Martha Stewart, Kristen Bell, Gwyneth Paltrow, Nicole Kidman, Chelsea Handler, and actresses Kristen Bell, Bella Thorne, + Lake Bell, to name a few.

All of which gives the impression that women are poised to become the new kings of cannabis!

Copyright © by Cannawayz. Cannawayz platform helps you to find a dispensary or delivery nearby.

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