MICROBUSINESSES COMING TO THE MISSOURI CANNABIS INDUSTRY
In Nov. 2022, voters went to the polls and by a margin of more than 127,000 votes made Missouri the 21st state to legalize cannabis and the first state to automatically expunge past, nonviolent marijuana offenses by a vote of the people. Additionally, the new constitutional amendment also created a pathway for more Missourians to get into the cannabis industry through the microbusiness license program.
As the voice of trade for Missouri cannabis, MoCannTrade is creating pre-industry programming to help inform, prepare and educate microbusiness applicants including business contacts and resources, supply chain and service provider resources, virtual and in person event programming. This is the same approach we took when working to prepare Missouri’s existing commercial cannabis operators prior to both Amendment 2 and Amendment 3 passage. Our hope is to again address the needs of Missourians interested in applying for Microbusiness Facility Licenses and finding success as a licensed cannabis operator.
WHAT IS A MICROBUSINESS FACILITY?
A microbusiness facility refers to either a microbusiness dispensary or a microbusiness wholesale facility, both of which conduct operations related to marijuana for medical and adult use. A microbusiness is different from a medical or comprehensive facility because it is designed to provide a path to facility ownership for individuals who might not otherwise easily access that opportunity, such as those with a net worth of less than $250,000 or veterans with a service-connected disability.
In order to qualify for a microbusiness facility license, applicant entities shall be majority owned by individuals who each meet at least one of a number of qualifications set forth in the Constitution.
WHO IS ELIGIBLE FOR A MICROBUSINESS LICENSE?
Applicants for microbusiness licenses must be majority owned by individuals who meet one of these equity requirements:
- Has a net worth of less than $250,000 and an income below 250% of the federal poverty level for at least 3 of the 10 calendar years prior to applying
- Has a valid service-connected disability card issued by the U.S. Department of Veteran Affairs
- Is a person who has been, or a parent, guardian, or spouse of a person who has been arrested for, prosecuted for, or convicted of a non-violent marijuana offense unless the offense involved selling marijuana to a minor or driving under the influence
- Reside in a zip code or census track where:
- 30% or more of the population lives below the federal poverty level
- The rate of unemployment is 50% higher than the state average
- The historic rate of incarceration for marijuana-related offenses is 50% higher than the rate for the entire state
- Graduated from a school district unaccredited at the time of graduation or has lived in a zip code containing an unaccredited school district for 3 of the past 5 years
- 30% or more of the population lives below the federal poverty level
THE MOCANNTRADE MICROBUSINESS EXPLAINER
For more detailed information download a FREE copy of the MoCannTrade Microbusiness Explainer PDF by clicking the link below:
MICROBUSINESS FACILITY MEMBERSHIP OVERVIEW
The annual member dues for a Microbusiness membership is $1000. At this time, MoCann is offering a $500 membership level for micro applicants to allow them access to all the benefits other commercial licensed members enjoy. After the 1st wave of licensure at the end of this year, if your group is successful in winning a micro license, your membership may be renewed for the coming 6 months for another $500. See microbusiness specific member benefits below:
Microbusiness Membership
$500 $1000
ANNUAL
MoCannTrade Microbusiness members gain important access to industry networking, knowledge share, and resources to support their potential cannabis business in Missouri INCLUDING these member benefits:
- Industry lobbying: In the last four legislative sessions, 100% success defending the Amendment 2 / Article XIV program from detrimental legislation.
- Eligibility to nominate / participate in board of directors, advisory boards and industry committees
- Bi-Weekly industry, policy, regulatory and program informational updates via MoCannTrade newsletter
- Unified representation for all industry, program, state legislative or relevant government matters
- Business listing and access to our member directory, the Yellow Pages of Missouri cannabis
- Passive participation in MoCannTrade stakeholder meetings/calls
- Team attendance at all virtual or in-person Member Meetups (limit 4 per in person event)
- Access to member’s only industry, education and online resource library
- Access to MoCannTrade member logo assets
- Free job postings on our industry job board
- Free “Industry Insider” digital subscription to Greenway Magazine
- Direct referral and social media spotlight of licensed business to industry
- Company/product logo and web link on website and eblasts footer
- Discounted tickets and exhibit presence for MoCannTrade conference, industry or lobbying events