“Once the barriers started coming up like the capital requirements and just the effort you’d have to put to make a successful cannabis company, the industry became more stale.
If you didn’t grow up wealthy or well-connected, they say, it is tougher to pitch largely white investors on your business. A 2019 study from the Canadian Venture Capital Association showed that only eight partners at 145 private equity firms surveyed, or 5.5 per cent, were “visible minorities.” That compares with Statistics Canada data showing 22.3 per cent of Canadians were visible minorities in 2016, projected to reach 34.4 per cent in 2036.
Before cannabis entrepreneurs apply for a licence, they must have a facility.
She recently had a client who didn’t receive security clearance because he had — years ago — had his licence revoked and car impounded for speeding.