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:
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.
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.
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.