{"id":4745,"date":"2021-03-29T11:14:13","date_gmt":"2021-03-29T15:14:13","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=4745"},"modified":"2021-06-15T13:52:25","modified_gmt":"2021-06-15T17:52:25","slug":"the-new-jersey-cannabis-microbusiness-license-an-entrepreneurs-guide","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/anderson\/the-new-jersey-cannabis-microbusiness-license-an-entrepreneurs-guide.html","title":{"rendered":"The New Jersey Cannabis Microbusiness License: An Entrepreneur\u2019s Guide"},"content":{"rendered":"<p>On Feb. 22, 2021 Gov. Phil Murphy signed into law the Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, which established the framework for a legal, adult-use cannabis industry in New Jersey. By some estimates, recreational cannabis may grow to be a billion-dollar industry in the state over the next few years. Many have worried that much of this growing economic pie may be grabbed by large, well-capitalized cannabis companies from out of state that have already established themselves in those other markets where recreational cannabis was legalized earlier than New Jersey.<\/p>\n<p>Enter the microbusiness license.<\/p>\n<p>Per New Jersey\u2019s cannabis licensing laws, a microbusiness is a cannabis business with strong established connections with New Jersey that is subject to certain size and operational limitations. A significant number of licenses to operate in the cannabis industry will be earmarked solely for such microbusinesses. As such, microbusinesses will only need to compete against one another during the application process, rather than needing to compete directly with larger, more established businesses. This potentially gives entrepreneurial start-up companies seeking to delve into the cannabis industry a path forward without getting pushed aside by multi-state operators (MSOs) in the frenzy once New Jersey begins accepting applications.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/anderson\/the-new-jersey-cannabis-microbusiness-license-an-entrepreneurs-guide.html\"  title=\"Continue Reading The New Jersey Cannabis Microbusiness License: An Entrepreneur\u2019s Guide\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>On Feb. 22, 2021 Gov. Phil Murphy signed into law the Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, which established the framework for a legal, adult-use cannabis industry in New Jersey. By some estimates, recreational cannabis may grow to be a billion-dollar industry in the state over the next few years. Many have worried [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[400,65,64],"tags":[],"coauthors":[207],"class_list":["post-4745","post","type-post","status-publish","format-standard","hentry","category-cannabis-insights","category-insights","category-anderson"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The New Jersey Cannabis Microbusiness License: An Entrepreneur\u2019s Guide &#8212; March 29, 2021 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"On Feb. 22, 2021 Gov. Phil Murphy signed into law the Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, which established\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/anderson\/the-new-jersey-cannabis-microbusiness-license-an-entrepreneurs-guide.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The New Jersey Cannabis Microbusiness License: An Entrepreneur\u2019s Guide &#8212; March 29, 2021 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"og:description\" content=\"On Feb. 22, 2021 Gov. 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