It has only been recently that Michigan has begun allowing recreational pot within the state. The government decided to allow people to apply for licenses such as club owners to help regulate the use of pot. At the time this was passed, a lot of business owners had been left out of the cannabis industry, but this is no longer the case thanks to the new rules that were brought in in July. In this article, we are going to be looking at Michigan Recreational Pot, and what it means for the state.
New Licences In Michigan
The entire process of acquiring one of these recreational licenses could take up to three or four months from the date that you apply, depending on how many applications are being received at the time. But, the director of the state Marijuana Regulatory Agency said that he believed they could be giving out licences as early as November, even though they only start accepting applications on the 1st.
This is allowing more and more people to get into the cannabis industry in a safe and controlled way, rather than potentially being at risk. There will be three new categories of license available for you to apply for, depending on your intentions. These new licenses will allow people to become marijuana-themed event planners, hold marijuana events, and even one where you can have people gather and smoke pot in a social place, as long as there is nothing else sold there such as food or beverages.
Medical Vs. Recreational Requirement
When it comes to medical marijuana, there are certain capitalization criteria that need to be met in order to be legally providing marijuana. Again, this will mean that the market is open to more people, and if someone is looking to start a business based around this, they might be able to successfully and within the law. Due to one of the restrictions of the medical marijuana license being that you have to prove you have capital between $150,000-$500,000, a lot of people have been left out of this market. Having this much money is not the case for everyone, but these new licenses are making the marijuana environment more inclusive of all businesses.
How Is This Being Received?
One of the biggest benefits of this is the inclusive ideas that are being spread around. More people are able to open a business in Michigan that is pot-related because they can apply for one of the new licenses. This could end up bringing about quite significant social change in this area as new business owners who are applying for one of these licenses will also need to submit a social equity plan.
Different licenses are available for the amount of pot that you want to grow, so make sure that you are looking into the right license is this is something you are interested in getting in to.
We hope that you have found this article helpful, and now know more about Michigan recreational pot and the new guidelines.