Inside NYC’s $4.8 million plan to support cannabis dispensaries – 1010 WINS

NEW YORK (1010 WINS) — Mayor Eric Adams budgeted $4.8 million to support potential cannabis entrepreneurs in the 2023 city budget, and the New York City Department of Small Business Services plans to use that money for a team dedicated to getting fledgling dispensaries off the ground.

listen to 1010 wins

The group will face unique challenges, though, as New York State embarks on its ambitious program to get the first licenses to people with former war-on-drugs era cannabis convictions.

A license isn’t a guarantee of success, according to SBS Commissioner Kevin Kim, and support from the city will play a key role in the triumph or failure of the state’s social equity program.

“Just getting a license is not the be-all-end-all of having a successful cannabis business,” Kim told 1010 WINS. “We know that you’re still going to need the foundational business skills, such as the legal issues, how to incorporate, how do you go about getting access to capital, how do you go about doing bookkeeping?”

“At SBS we have a lot of these

Read More Here...