The Role of Small Business in the Evolving Cannabis Industry

Ohio State Legal Studies Research Paper No. 806

Drug Enforcement and Policy Center, September 2023

22 Pages Posted: 21 Sep 2023

See all articles by Shaleen Title

Shaleen Title

Distinguished Cannabis Policy Practitioner in Residence, Drug Enforcement and Policy Center, Moritz College of Law, The Ohio State University

Bruce Barcott

Independent

Date Written: September 20, 2023

Abstract

As the legal cannabis sector grows and state markets mature, small businesses within the industry are struggling. Now is an opportune time to examine the role of small businesses in the cannabis reform landscape. With federal legislation on the horizon, policymakers require reliable information. Unfortunately, research on the issue of small cannabis businesses remains sparse.

In this paper, we argue that small cannabis businesses foster local economic growth and contribute to the public good. Additional research is necessary, particularly to compare findings from states that are already taking measures to safeguard and financially support specific types of small businesses. In the interim, we recommend the exploration of immediate solutions, beginning with (1) access to SBA loans, (2) systematic data collection and potential expansion of state measures such as fee waivers and licensing prioritization, and (3) consideration of lower-cost regulations for small businesses. Various relevant federal bills are listed and briefly analyzed in the Appendix.

Keywords: Cannabis industry, small businesses, small business association, marijuana reform, MSOs, social capital, local economies, cannabis social equity, small business loans, CDFIs, MDIs, microbusinesses, cannabis policy, cannabis legislation

Suggested Citation

Title, Shaleen and Barcott, Bruce, The Role of Small Business in the Evolving Cannabis Industry (September 20, 2023). Ohio State Legal Studies Research Paper No. 806, Drug Enforcement and Policy Center, September 2023, Available at SSRN: https://ssrn.com/abstract=4578161 or http://dx.doi.org/10.2139/ssrn.4578161

Shaleen Title (Contact Author)

Distinguished Cannabis Policy Practitioner in Residence, Drug Enforcement and Policy Center, Moritz College of Law, The Ohio State University ( email )

55 West 12th Avenue
Columbus, OH 43210
United States

Bruce Barcott

Independent

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