What Is Social Equity in Cannabis?
Social equity has become a new term of understanding for most since the recent social equality turmoil’s within America.
What does social equity in the cannabis space mean exactly? It's definition varies according to context but generally trickles down to fairness and justice in public policy. In the marijuana landscape, social equity entails the inclusion of black and brown communities in all aspects from consulting to cultivation. Before we can talk about social equality. Equity must be given, to not only achieve a fair advantage in life but for communities of colors to also succeed in life.
The one common denominator we see within the cannabis retail space is the lack of equity brands within shelf space. As we fully support other social equity brands fighting for the opportunity to thrive within the industry. We must assure social equity brands do not get locked out of the cannabis space within all aspects.
With social equity programs forming within the cannabis industry to provide equitable access into the cannabis space, not only as workers but as owners; we still see a lot of barrier social equity applicants and entities go through. Whether it’s creating a cannabis brand to creating a licensed cannabis business, barriers come from all angles for minorities within the cannabis space.
One of the lowest hanging fruits within the cannabis space is building a cannabis brand that provides cannabis based products. As there are many retail dispensaries that are focusing on enhancing social equity progression, we still see walls that can block many social equity entities from moving forward to becoming successful. Within the past twenty years, cannabis has ascended from being a taboo drug availed in black markets to a top-of-the-line commodity available in above-ground, sleek dispensaries. Now, more than ever, we need social equity within the cannabis space - and it’s time to take the matter into our own hands.