The Cannabis Accounting Podcast

Ep. 67: Using the Cannabis Industry as a Force for Good: How to Set Up a B Corp Structure with Brad Green

05.24.2021 - By DOPE CFOPlay

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Despite the Cannabis industry’s massive growth over the last few years, the sector still isn’t universally fair for everyone. Several factors, including criminalization of marijuana-related charges among minority groups, have created inequalities when it comes to accessing and benefiting from this growing market.

To promote the highest standards of social and environmental performance, many Cannabis companies have implemented a business structure called the Certified B Corp. On this episode of our podcast, DOPE CFO founder Andrew Hunzicker, CPA chats with Brad Green, an Australian-based Cannabis accountant. Brad’s vision is to empower clients and support a sustainable industry by utilizing Certified B Corps.

Listen in as Andrew and Brad discuss:

The purpose of a B Corp in the Cannabis industry: B corp models are based on using a business for good, promoting sustainable companies that benefit the environment, create equality among social classes, and minimize problematic corporate behavior (and we’ll discuss how Cannabis is a perfect industry for B Corps as more people try to establish social equity and fair opportunities for all business owners and consumers)

How a business can become B Corp certified: if you feel moved, as an accounting professional, to establish fairness and sustainability in the industry you serve, you may want to learn how to help your clients become B Corp certified (listen as Brad details how he introduces to the concept to clients and guides them through the process)

Specific ways Cannabis businesses can serve communities through B Corps: pursuing a desire to balance profit with purpose, Cannabis businesses can offer one percent of their annual revenue towards causes that align with their mission or can take steps to look at the impact of their actions on the community and not just their ROI (we’ll look at the verification process a client will go through to ensure they reach these benchmarks)

So, you’ll not only learn about how you can help guide clients towards financially sustainable businesses, but you’ll also have the incredible opportunity to help them leverage their power for something pretty spectacular - social equity.

Want more great tips and insider advice on the Cannabis and CBD/hemp accounting niches?  For more info on the DOPE CFO program, visit www.dopecfo.com. For more great tips and soundbites on Cannabis accounting and bookkeeping, make sure you subscribe today to our podcast.

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