In this episode, Amber is joined by Jeannette Ward, the Co-Founder and CEO of NuProject, a non-profit organization dedicated to helping people-of-color entrepreneurs in the legal cannabis industry by providing financial assistance.

Jeannette sheds light on the deep-rooted inequities within the cannabis industry, particularly affecting black and brown-owned businesses. She discusses the high costs and significant barriers to entry, including exorbitant licensing fees and the lack of access to banking services, which make it difficult for marginalized communities to thrive.

Their conversation also delves into the critical need for legalization and the allocation of cannabis tax revenues toward reparations, using examples from states like Illinois and New York to illustrate how these funds can address systemic underinvestment in black communities. She also highlights the ongoing impact of cannabis criminalization on black communities and advocates for greater involvement in organizations like the Marijuana Policy Project (MPP) and Students for Sensible Drug Policy (SSDP) to push for racial equity in cannabis legislation.

Tune in with Amber and Jeannette for an insightful conversation on navigating the cannabis business landscape.

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KEY POINTS:

• Jeannette’s career journey to NuProject
• On leading a business in the cannabis industry
• Factors to consider: right investors, state, and regulations
• Challenges faced by black-owned businesses
• The potential for federal legalization for cannabis businesses
• The importance of giving people of color access to licenses
• Cannabis criminalization and its impact on black communities
• How getting involved supports racial equity in cannabis policy
• Examples of states and the role of cannabis taxes in reparations
• How cannabis tax revenue can address underinvestment in black communities
• What privilege does Jeannette refuse to be guilty about?

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QUOTABLES:

“There's so many layers that cannabis criminalization has woven for black communities. [It] is such a central part of policing and how the system has continued and how much money the system makes — 43% of drug arrests — or cannabis arrests.” – Jeannette Ward

“When we're doing our underwriting, our evaluation is based on character, on future business projections, [and] not based on your credit score or how much cash you can bring to the table. Eventually, any bank on the corner will lend to a cannabis business, but what banks aren't figuring out is how to lend to black people [or] how to lend women – [which are] we're working on.” – Jeannette Ward

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RESOURCES

Jeannette Ward

LinkedIn | @jeannette-ward-1614ab5/

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Amber Cabral

IG | @bamcabral

LinkedIn | @ambercabral

Facebook | @amber.cabral

Twitter | @BamCabral

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Watch Amber’s TED TALK episode here.

Grab a copy of Amber’s books at Amazon!

Allies and Advocates: Creating an Inclusive and Equitable Culture

Say More About That: ...And Other Ways to Speak Up, Push Back, and Advocate for Yourself and Others -

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Guilty Privilege is produced by EPYC Media Network