According to a recent report, women holding executive positions in the cannabis industry grew by only a percentage point over the past year — to 23.1%. The percentage is below the national averages for all businesses.
The primary goal of the upcoming New Jersey Business Action Center Cannabis Training Academy is to change that — increasing the number of diversely owned businesses.
It’s a tough task.
Various factors have made it more difficult for women to break the “grass ceiling” in the cannabis industry. Gender bias in a traditionally white male-dominated industry makes access to funding for female entrepreneurs more difficult. According to the Harvard Business Review, companies founded solely by women receive less than 3% of all venture capital investments. In addition, regulatory hurdles are complex and constantly changing on both the state and municipal levels, making pivoting and adapting to changing circumstances imperative.