Three years ago, while working with Chicago NOMRL, Kenneth Mason, Jr. learned about the social justice aspect of the cannabis industry, and because of personal/family reasons, he wanted to learn more, help more, and get involved.

Mason founded Equibis, an accounting and business advisory firm that offers CFO services to cannabis businesses.

Equibis CEO Kenneth Mason, Jr.

“I instantly saw a need from a business advisor and accounting perspective,” Mason said, “so I began educating myself. Eventually, I connected with other business owners and began providing CFO services for them.”

“The best way to paint the picture is like this,” Mason said. “CEOs and entrepreneurs have great ideas and visions for their businesses. We help create a roadmap to get there through finance and accounting.”

Mason chose the cannabis industry because he wanted to actively work “towards the injustices of the industry/black people” and realized he had a skillset that would bring a ton of value to business owners.

As CEO of Equibis, Mason especially focuses on what he calls businesses in “undeserved communities.” These communities, along with the businesses within them, tend to lack resources and business guidance from a financial perspective, and Equibis wants to become that resource.

The Chicago native not only decided to bring on bring on new clients in the cannabis space but also any for-profit industry working in underserved communities.

“Believe it or not, it may be even more difficult to build a successful, financially profitable cannabis business than it is to get a license,” Mason said. “Especially considering the Federal Tax Code that sucks up a lot of your cash. We know the code; we know how to grow successful businesses. We help businesses in Illinois keep their doors open and grow.”

Equibis works with businesses from startup to 30 million in annual revenue.

One of the biggest misconceptions Mason notices is that people think licensees will become rich as soon as they receive a license.

“That is far from true,” Mason said. “One of the largest factors is the way the cannabis industry is taxed. This is a long-term game to play. The goal is to help black-owned businesses, minority businesses, social equity based cannabis businesses to thrive for the long term., to bring resources back to and embed within our community.”

Mason can be found on Instagram @daddy_cpa and on Linkedin.

Equibis can be found at its website and on Facebook.