Worcester Business Journal

wbjournal.com | May 1, 2023 | Worcester Business Journal 15 The best bank for your business is actually a credit union. #ICBusinessBanking | Insured by NCUA At IC, we want your business to grow just as much as you do. That's why we offer the same level of business solutions you'd expect from a bank. The difference is that you also get the personalized attention that a credit unioin can deliver. Come chat with one of our Solutions Advisors and let us help you get your business to the next level. We're with you. Commerical Lending Payment Processing Digital Banking Solutions Business Online Banking H O S P I T A L I T Y & T O U R I S M P O W E R 5 0 CAROLINE FRANKEL OWNER & CEO CAROLINE'S CANNABIS, LLC, IN UXBRIDGE AND HOPEDALE Residence: Douglas College: Johnson & Wales University, in Providence Frankel wants to make cannabis friendlier. She's one of local cannabis businesses continuing to grow as multi-state companies like Trulieve Cannabis Corp. and Curaleaf Holdings, Inc. try to wrangle the marijuana market in Massachusetts away from more local and homegrown entrepreneurs. As one of the 20% of cannabis businesses owned by a woman in the country, she wants to spread the kind word of cannabis. And so far, Frankel has been successful. With retail locations in Uxbridge and Hopedale, which opened in 2021, Frankel's made a name for herself in a federally illegal and heavily regulated business by offering her customers one of the biggest menus of cannabis products in the state. Also, Snoop Dogg visited her Uxbridge store in 2020. That always helps with building your marijuana brand. And her expansion plans aren't stopping at just two stores. Frankel plans for a new manufacturing facility to open this year. With 30 full-time employees, Caroline's Cannabis may be the 20th largest marijuana business in Central Massachusetts, but Frankel holds sway as a member of the board of the The Massachusetts Cannabis Business Association, a trade group dedicated to advocating for the cannabis industry. n How should professionals best use the power they wield? "Use your power to continue working hard, lead by example, always empower others, and be kind." n Early accolades: Frankel was voted most carefree and class napper in high school. ROY NASCIMENTO PRESIDENT & CEO NORTH CENTRAL MASSACHUSETTS CHAMBER OF COMMERCE, IN FITCHBURG Colleges: UMass Dartmouth, Sawyer Business School at Suffolk University in Boston North Central Massachusetts has seen a lot of change over the past decade; from the revitalization of downtown Fitchburg and Leominster to the redevelopment of Devens, to increased industrial investment across the region. Helping to tie together the business community from farmers to factory owners to the local hair salon is Nascimento and the North Central chamber. In addition to the networking and advocacy roles standard for chambers of commerce, the North Central chamber delivered more than 1,100 hours of direct technical assistance to businesses. The chamber's lending arm, the North Central Massachusetts Development Corp., made $1.6 million in total microloans to developing businesses over the past 12 months and granted more than $44,000 to small businesses. In 2022, it ranked third among all U.S. Small Business Administration microlenders in Massachusetts. Of those loans and grants, 74% were provided to historically underserved communities of minority-, woman-, or low-income-owned businesses. As an extension of his role at the chamber, Nascimento is the head of the tourism marketing agency Visit North Central Massachusetts, which promotes the 27 communities in the region. In April, the agency split $1 million with two other Central Mass. tourism organizations to entice visitors from November to April, the season between peak season and the off-season. n How should professionals best use the power they wield? "Obviously, I'm a little biased, but I believe they should join their local chamber of commerce! Many people look at chambers and think it's only networking and events, but chambers are a great way for business professionals to provide leadership in the community and collaborate to move the needle on big projects resulting in a positive impact in the community." n Small business in his blood: Nascimento came from a family of small business owners and learned at a young age the value of hard work and the impact small businesses can have on the success of the local economy and community.

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