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Businesswomen in the cannabis industry

The hot topic of cannabis legalization has sparked the rise of an industry. While the business community has traditionally been dominated by men, some women entrepreneurs see the emerging legal cannabis market as an ideal playing field for their business. They are closing the gender gap in the cannabis business and becoming some of the key leaders in the cannabis innovative industry.

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According to some sources, the cannabis industry is a particularly woman-friendly environment and has a higher percentage of women than many other industries for several reasons.

The hemp.im cannabis news app provides the latest happenings in the cannabis sector. The app curates cannabis news from across the world and distills it to 400 characters or less, helping you stay informed no matter where you are or how much time you have.

Mimi Lim and her cannabis background

Mimi Lam has been working in the cannabis industry for a little over two years. Her background in business and investment administration enabled her to help Tokyo Smoke grow before it passed into the hands of the giant Canopy Growth.

“After the acquisition, I had two choices: either stay at Canopy to do mergers and acquisitions for the company or start my own business,” says the 27-year-old woman.

“I decided to jump into the void, bet on myself and launch Superette,” added the woman who is now president and CEO of Superette, one of Ottawa’s cannabis stores. For Ms. Lam, the emerging legal cannabis market represents the ideal opportunity to start a business.

Angela Mustone –  HighOnLove founder

Angela Mustone, founder of HighOnLove – a company that specializes in adult products based on cannabis extracts. She is already taking a leading role in the industry as the perception of businesswomen in the cannabis sector is changing.

“For women, things have changed in recent years with assertive movements like #MeToo,” says the entrepreneur who has worked in the adult products industry for 15 years. “Slowly, there are more opportunities and conversations. It is a rapidly changing space and I am proud to be a part of it.”

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Tough problems

Sarah Seale, on the other hand, opted for the development of companies’ business strategies when she entered the cannabis industry in Canada. She is President and Chief Executive Officer of Cannabis Global Consultants, as well as Executive Director of Pineapple Express, a company specializing in cannabis delivery.

Despite the unique opportunities in the vibrant cannabis industry, Seale is noting that this world is far from immune to the inequalities associated with more traditional industries.

According to Statistics Canada, more than half of the country’s boards of directors are all male, and 28% of boards have only one woman.

Canada is a leader in the cannabis business

The legal cannabis market is a fertile ground for women because of its novelty, but also because Canada has become a leader in the field, as the first G7 country to fully legalize cannabis.

“I am proud to be part of the cannabis industry in Canada. There is more to come, especially with the 2.0 next year. I’m very excited to see what it will bring,” says Mustone, referring to the upcoming release of cannabis products such as candy and drinks on the shelves.

Even if Canada is full of opportunities for entrepreneurs, Mimi Lam does not hide her ambitions to see Superette branches elsewhere in the world. But until then, she has one important piece of advice for young Canadian women who want to try their luck: Do your homework.

“It helps to understand what we’re getting into. You have to know what you are capable of, to know what questions to ask, and to know what to expect. With all that, you’ll probably be the person in the room who knows the most,” she recommended.

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(Featured image by Moose Photos via Pexels)

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First published in ICI Ottawa-Gatineau, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Valerie Harrison is a mom of two who likes reporting about the world of finance. She learned about the value of investing at a young age upon taking over her family's textile business when she was just a teenager. Valerie's passion for writing can be traced back to working with an editorial team at her corporate job, where she spent significant time working on market analysis and stock market predictions. Her portfolio includes real estate funds, government bonds, and equities in emerging markets such as cannabis, artificial intelligence, and cryptocurrencies.

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