A survey conducted by Marijuana Business Daily states women have more than one-third of the top leadership positions in the cannabis industry in North America. While the number of women in top positions has fluctuated since 2015, the proportion of female executives in the cannabis industry is at its highest level since 2010, according to the June MJBizDaily survey.
The data presented in a report by the Marijuana Business Daily Media Group underscore the challenges women in the marijuana industry may face. The report can be downloaded free of charge from its website, Twitter, and Facebook pages.
The money and resources that companies need to survive and expand often come from a mostly male-dominated industry. Industry experts believe that a more competitive market favors companies with men in ownership and leadership positions because of the access to the capital they have built.
Women In Cannabis
The general landscape has changed significantly since the MJBizDaily survey on the subject in 2017. Over the years, the major recreational markets, including Colorado and Washington State, have become highly competitive and are no longer in their start. As companies have closed or executives have left, it has become harder for women in the industry.
According to a recent report by the Marijuana Policy Project (MPP), an advocacy group for legalization, sales of cannabis are slowly increasing again.
Despite the fluctuations over the years, traditional companies have consistently outperformed their competitors regarding turnover and profit. Many young, fast-growing companies like Mary Daze that initially filled strong sales, marketing, and operations positions with their friends and family members are now looking for employees with more experience and expertise. Growing the awareness of cannabis as a viable alternative to alcohol and tobacco leads to concerted efforts to fill key leadership positions for women and minorities. However, they are not mobilizing for women in the industry who want to advance careers but are frustrated that they are not considered at the top of their current professions.
This is why Mckenzie Santa Maria, owner of Mary Daze Cannabis, left her executive position for Presidential RX and started her own cannabis brand with her Partner Kevin Leonard. They initially launched right when Covid-19 struct and locked down America. They saw the need for an accessible, reliable, and clean marijuana delivery service and began their venture there.
“As a woman in this space, I truly feel honored and blessed to have acquired the knowledge necessary to navigate through this cutthroat industry. I have worked alongside many great male CEOs and Owners of companies like Moxie, Weedmaps, Presidential Rx, ShowGrow, and are thankful for what they have taught me.”- Mckenzie Santa Maria.
Mckenzie concluded her statement by saying, “However, I knew I was able to achieve more than just an employee, which is why I took the leap and couldn’t be happier. I encourage all women to follow their dreams, whatever they may be, and stay genuine to who they are- Remember like the great Amelia Earhart said, “The most difficult thing is the decision to act. The rest is merely tenacity”. That’s what Mary Daze is Build upon. I say let us make our future now, and let us make our visions tomorrow’s reality.”
As big as marijuana may have been in America in 2020, New York could be the industry’s prize next year. Although nothing is set in stone, there are several reasons for cannabis investors to be optimistic about the new year. While there is hope for progress on marijuana reform at the federal level, even more, exciting development could be taking place in Colorado and Washington, both of which are seeking to legalize recreational use. Two possible outcomes need to be monitored in 2021 that could send pot stocks soaring.
California is currently the leading state in the growth of cannabis sales, and the state’s statutory revenue could rise from nearly $3 billion in 2019 to $7.2 billion in 2024.
Marijuana legalization is already on the agenda in New York for 2020. Still, Governor Andrew Cuomo, who is also dealing with a torturous coronavirus hotspot, has failed to include the law in the state’s final budget in time. With legalization in 2021, New Yorkers would become the next largest recreational market if marijuana were legalized. It would also mean that the country’s three largest cities would be located in states where adult marijuana use is legal and maybe even a new home for Mary Daze.