BUSINESS BRIEFS: Find MA Money for Business, Cannabis, Pop-Up Shop for Women

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Unclaimed Property Can Belong to Businesses, Too

As we celebrate National Small Business Week, State Treasurer Deborah B. Goldberg is encouraging small business owners to take the time to search for any unclaimed property that may be owed to them. In March, the Massachusetts Unclaimed Property Division (UCP) released over 50,000 new properties worth millions of dollars that are owed to individuals and businesses throughout the Commonwealth. Unclaimed property can include forgotten bank accounts, uncashed checks, insurance benefits, and more. It is estimated that billions of dollars in unclaimed property are held by states across the country, and small businesses are not exempt from potentially being owed property. The state processed 145,000 property claims in 2023 at a value of about $185 million and has returned near $780 million over the last five years. For more information on unclaimed property and how to search for it, call the live call center at 1-888-344-MASS (6277).

Cannabis Biz Grows

Looking to sidestep controversy over the Cannabis Control Commission leadership, regulators highlighted the increasing profitability of the industry Thursday while discussing their work to implement a state law promoting diversity in the sector and creating a path for social consumption sites. The industry hit a milestone last week, with adult-use retailers generating a cumulative $6 billion in gross revenues since operations began in 2018, Acting CCC Chair Ava Callender Concepcion said during an annual "State of Cannabis" event. On April 20, considered a holiday for cannabis enthusiasts, the Bay State industry logged its best-ever sales day, bringing in $8.5 million in sales. "The industry continues to grow here in the commonwealth of Massachusetts," Concepcion said. "This past December was a record-breaking month of sales where we brought in more than $140 million in revenue. 2023 was also the highest grossing year since the industry became operational in 2018. This has now been the third consecutive year where Massachusetts retailers have surpassed $1 billion in revenue in a single calendar year."