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Ep. 63: Establishing Much-Needed Social Equity in the Cannabis Industry with Carlos Vela

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station description The DOPE CFO Cannabis Accounting Podcast discusses the ins and outs of cannabis/cbd... read more
The Cannabis Accounting Podcast by DOPE CFO
Duration: 28:55
The increasingly widespread legalization of Cannabis has led to thousands of opportunities for CEOs and consumers around the country, but not all opportunities are created equal. For minority communities, the Cannabis industry can be an unfair and unfavorable marketplace.

BIPOC Cannabis business ow
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The increasingly widespread legalization of Cannabis has led to thousands of opportunities for CEOs and consumers around the country, but not all opportunities are created equal. For minority communities, the Cannabis industry can be an unfair and unfavorable marketplace.

BIPOC Cannabis business owners and consumers are still privy to the complications that arise from negative drug stigmas and the “war on drugs” dialogue, creating segregation issues in an industry that should be a great equalizer. Allies and minorities working in Cannabis realize this imbalance, and have taken steps to establish social equity in this industry.

On this week’s episode, we discuss the current state of Cannabis and its effects on minorities. Join DOPE CFO founder Andrew Hunzicker, CPA and Carlos Vela, a Cannabis accountant who helps Cannabis owners apply for social equity, as they highlight what we can do to elevate minorities in this growing industry.

Andrew and Carlos will offer insights and suggestions, including:

🌱 What social equity is and why it’s essential to establish in Cannabis: we’ll discuss how the “evil drug” stigma of Cannabis was particularly directed at BIPOC communities over the last few decades, along with disproportionate arrests for Cannabis among minority communities (and why reform and social equity is required now to establish balance in the industry)

🌱 The need to draw business away from big companies and make room for the “little guy”: now that legalization is spreading quickly across the nation, big companies are able to swoop in and take over the industry, leaving small businesses - particularly in minority communities - unable to claim their share of the green rush (making social equity programs even more essential to let everyone have a chance)

🌱 Actions you can take as an accounting professional and ally: from learning how to help your clients apply for social equity to spending the time to listen to every client and address their individual needs, you can take steps to help create social equity in this industry (we’ll give you some tips to get started if you are  passionate about doing your part)


Inclusivity and equality begin with us. Listen in today to hear how we can make the Cannabis industry more accessible and profitable for all.

Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, text DOPECFO to 345345 for our free Cannabis Accounting Guide. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.

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Snippet Transcripts
record breaking sales in a very hot market for cannabis CBD. We have a new administration things are going to pick up very, very rapidly. That said for minority communities, both canvas CBD business owners and consumers. The opportunities are more limited and this is very, very capital intensive industry. And so that has been um, an area of concern of states open up legalization. Um, up until the first they started to legalize a history of disproportionate criminal charges, um, and even evil drugs to stigma was unfairly directed minority communities. And even today With more than 30 states legalize or decriminalize weed. This unfairness has followed minorities. And so either minorities working in cannabis or allies, people that want to support minorities working in cannabis, get this issue and have taken steps to establish so called social equity from day one. many new states are coming on. I've actually talked to some of them, they're very concerned about making sure they look at this issue as they legalize in their state. So we're gonna talk to Carlos Villa today cannabis accountant who has experienced actually helping cannabis owners apply for social equity licenses. He's gonna talk about several things. And so why don't we just dive right in? Um, it looks like you have an amazing career at a Big Four and publicly traded companies, which I think is going to be huge experience as we go towards legalization. We're gonna have much more sec public filing type of work as well.
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