Under the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act (NJCREAMMA), a microbusiness is a smaller-scale cannabis establishment that is issued a special type of license by the Cannabis Regulatory Commission (CRC). The microbusiness license category was created to foster a diverse and inclusive cannabis industry, promote local entrepreneurship, and provide opportunities for small businesses in New Jersey.
Some key features of a microbusiness under the NJCREAMMA include:
- Ownership:
At least 51% of the microbusiness must be owned by individuals who have been residents of New Jersey for at least the past two years. - Size and capacity limitations:
Microbusinesses are subject to restrictions on the scale of their operations. For example, a micro-cultivator is limited to 2,500 square feet of canopy, a micro-manufacturer can produce no more than 1,000 pounds of cannabis products per month, and a micro-retailer is limited to selling no more than 1,000 pounds of cannabis products per month. - Location:
A microbusiness must be headquartered in New Jersey and is generally required to operate within the same municipality where its owners reside. - License quotas:
The CRC aims to issue a certain percentage of licenses to microbusinesses in order to promote diversity and local entrepreneurship in the cannabis market. The NJCREAMMA calls for at least 10% of the total number of licenses issued by the CRC to be designated for microbusinesses. - License types:
Microbusiness licenses are available for various types of cannabis operations, including cultivation, manufacturing, wholesaling, retail, and delivery services.
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If you have any questions about this article or would like to consult with an experienced New Jersey cannabis lawyer about your cannabis microbusiness, please contact us at (973) 383-2700 for a free, confidential, no-obligation consultation.
