Cannabis should be leveraged to create meaningful, green jobs where they are most needed

The changes in cannabis law and the changing consumer perceptions around the cannabis plant have enabled the birth of a brand new industry. This is visible in North America more than anywhere else, where more and more states are legalising both medical and recreational cannabis, but also in Europe, with a sizeable population with a real need for medical cannabis. In both regions, we are seeing exploding interest in CBD products, also derived from the cannabis plant.

A new industry like this represents an economic opportunity that is unheard of. Best of all, cannabis doesn’t care about geography or professional background. Businesses can be successful in any location. They can also be led by and employ people with different sets of skills. It’s not only a new market, but also an important source of jobs that could help reintegrate into the labour market those that lost out to outsourced manufacturing.

A massive opportunity for jobs and entrepreneurship

It’s hard to get accurate figures about the impact of the cannabis industry on jobs. Governments are not officially collecting statistics, as the legal status of the plant and of the industry are still not completely figured out. But some private actors have provided insight and, so far, it’s clear the potential is massive.

In the US alone, it is believed that by early 2019 there were 211,000 people employed by the cannabis industry. An additional 40,000 are expected to be added by 2020, according to New Frontier Data, a market research firm for the cannabis industry. Recruitment platform ZipRecruiter reports that, in 2017, job postings for the cannabis industry had increased by 445%, by far surpassing other growing areas like tech (254%) and healthcare (70%).

These numbers are impressive, but they could be overshadowed in only a few years. Market research firm Nielsen forecasts the industry to grow by a multiple of five between 2018 and 2025. Over to our side of the pond, Brightfield Group estimates the CBD market in Europe will grow to four times its size between 2018 and 2023.

Local and open

Cannabis has the potential to create a large number of jobs that can be taken up by those who have traditionally been the losers in the current labour market. Cannabis is creating demand for new jobs requiring a range of skills. This new labour is also relatively easy to get into coming from other industries, regardless of personal or professional background.

There is an enormous opportunity here for both the public and private sector. But they need to be proactive. Governments have the chance to, with the proper incentives, create high quality, green jobs in areas where the outsourcing of labour hit hardest.

Entrepreneurs also have the chance to become involved in a growing, meaningful industry. The challenges to opening up a cannabis business are not monumental. The industry is open and welcoming. Despite the complex science behind it, cannabis is a botanical product, and requires little processing to turn into oils, edibles and others. Cannabis can be grown pretty much anywhere and the cannabis plant does not require many resources to grow.

The industry, although already sizeable, is still at its infancy. There are no huge companies yet to have created an unsurpassable moat. No one has a monopoly on the market nor access to critical knowledge that gives them any unfair advantage. Even in British Columbia, California or Colorado, some of the ‘meccas of cannabis’, where I have spent much of my time in the last few years, the lack of proper regulation and knowledge in this industry leaves plenty of room in the market for hard-working people with good ethics. There is room to compete!

This lack of widespread knowledge and transparent, robust regulations, although not ideal, can be an opportunity for those willing to plan in a smart way and put in the hard work. Good research and an entrepreneurial spirit will be definitely needed to start a company in cannabis. Government bureaucracies often themselves don’t understand how to deal with cannabis. It is then the business owners and leaders that have to, based on their knowledge of existing laws, tell them how things are. Navigating these challenges will be a deterrent for many, which makes cannabis great for those who do have the extra motivation and work ethic to enter the market.

Truly meaningful jobs

The best thing about the cannabis industry is that it’s not just for profit. It’s also not a simple assembly-line job that has people doing monotonous tasks simply for the profit of a company, as most manufacturing jobs are. It’s a natural, ecological product that benefits people, many of them with health issues. We’ve received amazing feedback on the therapeutic effects of CBD — something that has made an impression on us on a human level. It’s something that motivates us to continue doing great work for our clients.

The nature of the cannabis industry will force anyone starting a business to reflect on the good they are helping to bring about, it’s inevitable. And that can be a driving force for new cannabis entrepreneurs.

Cannabis provides real benefits to people that need this natural product. Its uses go beyond wellness too. Hemp can be used for a wide variety of things, and is known for being a much more sustainable product than its alternatives in the textile or construction industries. Cannabis jobs will not create pollution and will be more sustainable and green. In other words, getting involvement in the cannabis industry has a good chance to have a positive environmental impact.

Cannabis is inclusive of all people. It has the unique potential, as a new industry, and right from the start, recruit from any demographics, class, religion or gender. We need to fill many positions requiring different skills.

Final thoughts

As always, a lot will depend on the ability of authorities to produce clear legal frameworks. Until then, this creates an added incentive for entrepreneurs who want to be early in the market. It’s obvious there is appetite from consumers. Beyond just caring about tax revenues, governments should also consider the benefits the cannabis industry can bring to depressed, former manufacturing regions, and the opportunities it presents to segments of the population that have been disadvantaged in the labour market. With guidance and incentives, the cannabis industry could provide a green alternative towards a more inclusive, sustainable and meaningful growth.