Women and cannabis are quite similar when you think about it. Yeah, we know, it seems odd to compare the two, but both have undergone transformations and adaptations to be accepted in the business aspect of our society.
Women and the cannabis industry are in a constant cycle of breaking stereotypes in order to be given opportunities to fulfill their potential. And though great strides have been made for women and cannabis, in 2021 the percentage of executive positions held by women in the industry fell to 22.1% from 36.8% in 2019.
Though the exact reason for the decrease is unclear, many believe that as marijuana legalization efforts grow, more men are saturating the business. A 2018 study published by The Boston Consulting Group found that companies founded or co-founded by men receive double the investments compared to female founded companies.
Despite the dip in leadership roles in the cannabis space, there are a number of women making waves in the industry. We wanted to highlight a few of these great women in the cannabis space and female owned businesses.
If you’re a part of the cannabis space, you’re familiar with efforts towards federal legalization. One such committee that pushes towards these policies is the USCC, the US Cannabis Council. And the chair of this council is Jessica Billingsley, a female cannabis entrepreneur. Billingsley created tech company Akerna, a seed to sale tracking software, that became the first cannabis tech company to list on NASDAQ. She’s been in the business for over a decade and brings a unique perspective to the USCC.
Some women have made some big name brands in the biz. Kiva Confections is one of them, and it’s cofounder Kristi Palmer is inspirational to say the least. She and her husband started their cannabis venture in their backyard (a short lived experience) and turned their curiosity into a thriving business.
We can’t forget the importance of small businesses in the cannabis industry. Dispensaries and growing farms are the backbone of the biz! Below is a list of female owned dispensaries in the MA area (where LucidaClub is located).
And we can’t forget our co-founder, Lucinda, who is a huge part of what keeps LucidaClub going strong and building every day. We are so lucky to be a part of this industry and the growth of women in business!