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The cannabis industry is quickly becoming a magnet for female entrepreneurs, with more and more women getting involved in various aspects of the business. As medical and recreational marijuana become legal in more states, the industry is experiencing significant growth. In 2013, the industry was valued at $1.8 billion, and by 2015, it had reached $5.4 billion, according to the ArcView Group, a cannabis-focused investment and research firm.
One of the reasons why the cannabis industry is particularly appealing to women is that it is relatively new, with few barriers to entry compared to other industries. Giadha DeCarcer, CEO and founder of New Frontier, a data analysis provider for the marijuana industry, highlighted this point. DeCarcer, a former investment banker, noted that traditional male-dominated industries like technology and defense had made it difficult for her to advance in her career. However, in the cannabis industry, she found a more level playing field.
Women currently make up 36% of all executives in the cannabis market, surpassing the national average of 22% for women in executive roles across all industries, as reported by Marijuana Business Daily. While specific data on the number of female cannabis entrepreneurs is harder to come by, anecdotal evidence suggests that more women are entering the industry.
Jane West is one of the women leading the way in the cannabis industry. A proud cannabis user, West co-founded Women Grow, a professional networking group for women in cannabis. The organization has grown significantly since its inception in 2014, with chapters in 44 cities, a large online following, and an annual summit that attracts thousands of attendees. West believes that there is immense opportunity for women in the industry and is passionate about spreading the word.
Salwa Ibrahim, another female entrepreneur in the cannabis industry, co-founded Blum, a medical marijuana dispensary in Oakland, California. Despite facing challenges in the beginning, Ibrahim was able to build a successful business by attracting top talent and providing incentives for employees to grow with the company. Blum now serves hundreds of patients daily and has expanded to include a cultivation center, production facility, and 70 employees, with more than half of the staff being women.
On the cultivation side, cannabis growers are still predominantly men, but women like Jennifer Gote are making strides in the industry. Gote, a single mother of four, started her cannabis career as a trimmer in Arizona. She quickly rose through the ranks, learning every aspect of the business before eventually starting her own cannabis cultivation and dispensary management company, AOW Management. Gote is now focused on hiring and mentoring more women in the industry to help them succeed.
Overall, the growing presence of women in the cannabis industry is a positive development that highlights the diversity and innovation within the sector. As more states legalize marijuana and the market continues to expand, opportunities for female entrepreneurs in the industry are only expected to increase. With women like Giadha DeCarcer, Jane West, Salwa Ibrahim, and Jennifer Gote leading the way, the future looks bright for women in the cannabis industry.
