With the marijuana industry becoming increasingly more accepted, more people are looking for ways to get involved with it. In fact, new entrepreneurs are creating a number of businesses to find one of these ways. However, it isn’t just the big businesses that make up this already very lucrative industry. There are even small businesses that are starting to pop up across the country. These smaller businesses, or marijuana microbusiness, have started appearing in multiple states.

Marijuana Microbusiness

It is a smaller business that has the license to grow, process, and sell small batches of marijuana. These smaller businesses do this through an exclusive retail outlet. Because they are smaller and self-contained, the microbusinesses do not interact with other cannabis businesses. This helps create new small businesses while also helping them thrive.

The number of plants that these businesses can grow will differ depending on the state. Michigan, for example, has a limit of 150 plants, while New Mexico has a 200 plant limit.

Current Attempts

New Mexico, especially, is working to allow the success of these small businesses. Officials with the New Mexico Finance Authority are hoping to use public funds to help these businesses along. Specifically, they want to offer a $5 million line of credit to the licensed businesses. This is connected to provisions in a state law that calls for promoting business opportunities in communities that marijuana laws have harshly penalized. Similarly, it requires help for farmers in poor communities.

However, state legislature is stalling them. In fact, the CEO of the Authority, Marquita Russel, stated that there are currently barriers making it difficult for these businesses to succeed. Specifically, that they can’t go to a bank or the Small Business Administration to get start-up cash. Russel stated that this sort of environment isn’t conducive to the success of these businesses.

Hope

With the introduction of these new businesses, more people will be able to get into the cannabis industry. These small businesses will help to offer these products to a smaller market, namely smaller population areas.

It is the hope of activists that these small businesses will push for the legalization of cannabis.

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