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INDEX: The Wonderful World of Weed

This month, BET's digital video series focuses on having a Black imprint in the growing cannabis space.

For the third episode in BET's yearlong video digital series, INDEX,  we again highlight the spaces where Black people are thriving or looking for inclusivity.

In pop culture, no other community has made marijuana more acceptable than Black people. From music, fashion, politics, and sports, Black folks have popularized the plant, which also has medicinal properties, and made it more visible in every conceivable way.

While our community should be credited for bringing weed culture into the mainstream, Black entrepreneurs have encountered numerous roadblocks to achieving ownership and equity in the ever-growing, multi-billion-dollar cannabis industry. Antiquated legislation ​​and extreme racial bias have contributed to the hurdles. 

The Business of Cannabis

Los Angeles Cannabis Businesses See Uptick in Sales During Coronavirus Pandemic

The Brightfield Group, a prominent cannabis research firm, estimates that legal marijuana sales are projected to be over $31.8 billion in annual sales by the end of 2023. By 2028, experts predict that sales will almost double to $50.7 billion. While the cannabis industry is projected to continue its massive growth,  Black marijuana business owners make up less than two percent of the sector. 

Despite all of the challenges that exist, Black entrepreneurs have made their mark in the cannabis business with unique innovations in food, brand marketing, and by advocating for more equitable opportunities in the cannabis business. As the “Mary Jane'' economy continues to blow up, we are well on our way to getting our rightful share.

So in honor of the day, “smoke up for 4/20—national “Weed Day”—and check out the latest episode of INDEX about how” budding” Black entrepreneurs are making waves in this cannabis-oriented space.

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