Is the cannabis industry still welcoming of women? was it ever

To celebrate International Women’s Day and kick off Women’s History Month, Higher Standards hosted a panel discussion on ‘Women In Weed’ at Higher Standards Chelsea Market in New York City in partnership with Flower by Edie Parker.

“The panel of Women In Weed — outlaws, pioneers, entrepreneurs and advocates — shared stories of how they ventured into uncharted territory with superhuman dedication,” Elana Frankel, founding editor of Woman and Weed, told Benzinga. “These women don’t mind working in high-risk, unfamiliar territory, and it was clear the audience was ready to follow.”

In addition to Frankel, panellists included Margaret Hancock, Edie Parker Sales Manager; Mary Pryor, founder of Cannaclusive; Lulu Tsui, founder of On The Revel; and Sophie Saint Thomas, a published author. They talked about raising capital, sex and cannabis and how to get started in the industry

“The evening was energetic, and it was the power of personal narratives that brought greater understanding of complex issues,” added Frankel, who authored the book Women and Weed: How the Green Rush Is Changing Our Lives.

Where have all the women gone?

It’s no secret that as the legal cannabis industry has grown, the rate at which women are entering the industry has declined recently.

When Marijuana Business Daily published its 2017 report “Women & Minorities in the Marijuana Industry,” women held 37% of leadership positions. That percentage has dropped to 22%.

However, another report by the Arcview Group and the National Cannabis Industry Association confirmed that companies run by women are more profitable and generate more than twice the revenue per dollar invested than companies without them.

RELATED: Women and minorities are still grossly underrepresented in the cannabis industry

A Women in Cannabis Study (WICS), founded and led by Ladyjane Branding’s Jennifer Whetzel, began in 2019 compiling data from more than 1,500 women and non-binary participants. The study found that women are keen to bring their skills, knowledge, and wisdom to the fledgling legal industry, but face barriers to entry, including common challenges such as sexism, harassment, lack of support and benefits, difficulty in… Fundraising, low pay and stigma.

Photo by Zummolo/Getty Images

Despite an impressive number of female founders and female owners, only 11% of respondents said they believe the cannabis industry is fair.

Rosie Mattio, Founder and CEO of Mattio Communications, says 2022 will be a pivotal year for female cannabis leaders.

RELATED: Setting Equal Standards for Women in the Cannabis Industry

“The cannabis industry cannot reach its full potential without women at the helm,” Mattio said, noting that while women executives are currently at the helm of some of the most influential cannabis companies, there is still a major imbalance.

“Low participation rates among women and minorities are a pervasive problem in cannabis, and women leaders are addressing these glaring disparities through their own companies,” Mattio wrote in Rolling Stone.

This article originally appeared on Benzinga and has been republished with permission.

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