Arts, Faculty of
Gender, Race, Sexuality and Social Justice, Institute for
DSpace
UBCV
Hamilton, Ann-Marie
This paper examines the factors that affect Black female entrepreneurs in Jamaica through the lens of slavery, colonialism, gender, race, class and the impact of the International Monetary Fund’s predatory neoliberal policies. In addition, the essay includes a literature review that shows the impact of these factors on Black female business owners in the Caribbean and the US, but the US is not included in analysis of the IMF. While secondary and primary sources were used, the primary sources produced more up-to-date and relevant information for this paper, particularly for Jamaica. The research portrayed that slavery and colonialism laid the foundation on which gender, race and class is structured for Black female business owners today. It also showed the consequences of these imposed systematic structures on the business women in the informal and formal sectors. Additionally, the essay illustrated that the predatory neoliberal policies of the International Monetary Fund (IMF) has had adverse effects on the economy which in turn impacts the establishment and growth of Black female entrepreneurship. The essay demonstrates in the form of case studies the various successful encounter measures that the group of informal commercial importers from the informal sector and three entrepreneurs from the formal arena, deployed. This feat was achieved partly because the government implemented a monetary policy that created a positive economy.
1 Black Female Entrepreneurs in Jamaica: Defying the (In)visible Barriers and Succeeding Ann-Marie Hamilton University of British Columbia 2 Abstract This paper examines the factors that affect Black female entrepreneurs in Jamaica through the lens of slavery, colonialism, gender, race, class and the impact of the International Monetary Fund’s predatory neoliberal policies. In addition, the essay includes a literature review that shows the impact of these factors on Black female business owners in the Caribbean and the US, but the US is not included in analysis of the IMF. While secondary and primary sources were used, the primary sources produced more up-to-date and relevant information for this paper, particularly for Jamaica. The research portrayed that slavery and colonialism laid the foundation on which gender, race and class is structured for Black female business owners today. It also showed the consequences of these imposed systematic structures on the business women in the informal and formal sectors. Additionally, the essay illustrated that the predatory neoliberal policies of the International Monetary Fund (IMF) has had adverse effects on the economy which in turn impacts the establishment and growth of Black female entrepreneurship. The essay demonstrates in the form of case studies the various successful encounter measures that the group of informal commercial importers from the informal sector and three entrepreneurs from the formal arena, deployed. This feat was achieved partly because the government implemented a monetary policy that created a positive economy. . 3 Introduction In this period of our history there has never been more academic discourse, public opinion and media coverage about Black female empowerment in the Global South and the contributions that Black female entrepreneurs can or are making to their economies. International lending institutions and governments from the Global North continue to theorise about how to assist non-industrialised nation-states from their economic deficit while imposing their neoliberal tenets. The outcome has had and continues to have, detrimental impacts to their citizens. Jamaica is an example of such a scenario. Black female business owners irrespective of their sectors continue to add to the Jamaican economy while succeeding. This occurs despite the adverse effects of historical factors such as slavery and colonialism and elements such as gender, race, class and the IMF’s predatory policies. This is the premise on which the paper is written. Black female entrepreneurs have come into their own in Jamaica. This statement, although accurate hints at the myth that persons mainly of African ancestry who make up 90 per cent of the Jamaican population have not been successful in business. Jamaican businesses, as well as history scholars like Verene Shepherd, note that Black entrepreneurs existed through enslaved Blacks before slavery was abolished in 1838. Shepherd announces that they also occupied the position before there were business owners of other ethnicities such as the Asians.1 Since then, Black female entrepreneurship has grown exponentially. In recent years the female business owners have established businesses in non-traditional and innovative sectors such as 1 Black Jamaicans Have Strong Tradition of Entrepreneurship – Academics, Jamaica Observer, February 12, 2012, http://www.jamaicaobserver.com/magazines/career/Black-Jamaicans-have-strong-tradition-of-entrepreneurship--academics_10730389 4 environmental sustainability. They have also built companies in predominately male sectors like the medical cannabis industry. These accomplishments have gained them international recognition from The World2 and Forbes Magazine3. The literature will show that the informal commercial importers enter the business world out of necessity while the formal female entrepreneurs choose to enter the field of commerce based on an opportunity.4 This paper examines the factors that are impacting the female owners in their micro businesses in the informal sector and small to medium-size businesses in the formal industry. It scrutinises how the entrepreneurs negotiate and overcome the challenges of the legacy of slavery and colonialism and gender, race and class which are embedded with complexities. The essay seeks to investigate the conditions under which the owners enter the business sector, and how they maneuver hurdles within the field, by attending particularly to the economic effects of the IMF’s predatory neoliberal lending policies. Finally, the paper explores the countermeasures the business women deployed while succeeding. In sum, the larger aim of this paper regarding Jamaica is to contribute to its public and economic policies with the view of the Minister of Finance and the IMF’s Mission Chief creating more favourable economic policies for the country. The formulation of advantageous policies should foster a business environment which encourages female entrepreneurship. This, in turn, 2 “Female Entrepreneurship Come Into Their Own in Jamaica,” The World Bank, March 14, 2016, http://www.worldbank.org/en/news/feature/2016/03/14/female- entrepreneurs-jamaica. 3 Alexis Monteith, “Jamaican entrepreneurs featured in Forbes Magazine,” Jamaica Observer, February 18, 2019, http://www.jamaicaobserver.com/news/jamaican-entrepreneurs-featured-in_157433?profile=1373. 4 As a group, the women are a part of the micro, small and medium-sized businesses and they account for 35 per cent of the jobs in the country. “Shaw says MSMEs indispensable in achieving growth,” The Jamaica Gleaner, April 21, 2019, http://jamaica-gleaner.com/article/news/20190421/shaw-says-msmes-indispensable-achieving-growth. However, despite these achievements, they are still being impacted in their pursuit of owning businesses or enhancing their existing business opportunities. 5 would have a beneficial impact on the country’s growth of development. The essay may also have the potential of being a resource for other Caribbean countries when exploring female entrepreneurship and the impacts on their economies. Raciality and Neoliberalism and its “Formation” of the Black Business Women in Jamaica Jamaica is an example of a nation that experienced slavery, along with the postcolonial apparatus of raciality. Race, class and socio-economics are intrinsically linked, and their aftermath is evident in the society, which includes the business sector. Therefore it should be noted that there is a long-standing association between the country and the IMF. The connection is a representation of the destructive outcome of global capitalisation on the debt-strapped “Other” for the profit of industrialised countries through international lending bodies. In other words – “those already in a position—as social or global (postcolonial) subjects—have paid for fixing or keeping the system intact, while those who have profited from the inequality/vulnerability of debtors have been rescued either by a particular government or a multilateral juridico-economic body (the European Union or the International Monetary Fund [IMF]”) (Chakravartty and Ferreira da Silva 2012, 373). As it relates to the institution of slavery and capitalism and the ramifications for people of African descent, Murdoch (2009) states that Black ethnicity was the means through which European imperialism and capitalism garnered enormous profits from the cultivation of sugar cane in the Americas. The racialization of Blacks afforded the expansion of Europe’s economies and foreign trades, particularly Britain’s (66). The plantation system was the mechanism of the West through which Black bodies, particularly women’s, were exploited for the maximisation of profit. This was achieved through the construction of Blacks as different and “Other” according 6 to the knowledge of the West (66). Chakravartty and Ferreira da Silva (2012) support Murdoch’s notion by documenting that nation-states like Jamaica that were ruled by Britain regarded the enslaved people of African ancestry as “improper economic subjects”. Since they were “ontologically deficient”. These individuals existed outside of Europe physically and culturally – the “other of Europe” and without self-determination. Therefore they were improper juridical, economic and ethical entities (369). This definition of illegitimacy was the foundation on which Britain sanctioned the first Africans to be trafficked to Jamaica in 1517 by the Atlantic Slave Trade (Murdoch 2009, 66). Furthermore, it provided the excuse for the amalgamation of the colonial and racial matrix of capitalist accumulation of land. The justification extended to the exploitation of labour and the appropriation of resources (Chakravartty and Ferreira da Silva 2012, 364). Because of its past, the country currently symbolizes a people marked by debt on which the International Monetary Fund capitalizes through its predacious lending policies. Its population, mainly of African descendants, is a case of an unpayable debt (Chakravartty and Ferreira da Silva 2012, 365). By definition, the authors state that an unpayable debt is a debt that people of colour, particularly Blacks and especially those of the Global South, are unable to repay to lending institutions, especially to those of the Global North. Their inability to meet their financial obligations is because the financial institutions issued the loans on the premise of their racialization and low socio-economic status. This was done with the intent and recognition that the loan holders would never be able to repay their debts (362-365). In Jamaica’s case the IMF gave the country loans based on conditionalities5 that they knew the nation-state could not meet. 5 Conditionalities are conditions attached to the provision of loans, debt relief or foreign aid by the provider (IMF) to the receipt, which is usually a sovereign government. 7 However, I am also referring to an unpayable debt on the part of the Global North. By that, I mean that there is no amount of compensation that can be paid to the descendants for the emotional, psychological, cultural and monetary extraction as well as the intergenerational trauma caused by the governments and institutions of the North. A micro example of an unpayable debt that was illustrated during slavery in Jamaica was the white plantation class’ exploitation of the slaves, especially the females for their production and reproductive capacity. The profiteering of the women’s labour and their procreative abilities was maintained through the domination of sexual violence such as rape. Moreover, the subjection was reinforced through the deployment of psychological abuse by the use of demeaning animalistic language (Paton 2006, 247). Additionally, their children conceived out of sexual violations were owned by the plantation elites and were born into slavery (Petley 2005, 484). These tools of oppression were integrated into the totality of the power relations on the plantations (Paton 2006, 247). Furthermore, Mbembé (2003), argued that the power dynamics on the plantations eliminated civility and the humanity of the females was discarded through a state of exception – under which black women’s humanity was viewed as the perfect figure of shadows (21-22). The outcome was a loss of right over their bodies and omission of their political status (Mbembe, 21; Paton, 259). Therefore they experienced natal alienation and social death (21). The women’s subjugated conditions produced the framework for the contemporary Jamaican society which is grounded in contestation. It influenced how the white middle class, biracial and “brown” individuals perceive and relate to Black women and their femininity, especially those of the lower class. From a business perspective, the subjected environment framed the parameters of “who” belongs to the business world and “who” can claim the title of 8 “respectable entrepreneur”. This, in turn, raised the question about Black women’s legitimacy as business owners and if they are worthy of a certain social sphere. In addition, it dictated how the women, especially those from a less prestigious social standing negotiate their identities and function in their skills and abilities in the informal and formal business sectors. Methodology Three black female entrepreneurs from the formal sector and a group of informal commercial importers from the informal sector were used as case studies for Jamaica. The three business women from the formal arena were chosen because they owned businesses in innovative and cutting-edge industries. These industries comprised of high-technology/renewable energy, manufacturing and medical cannabis. The industries demonstrated that the Jamaican business and economic environment aligns with the business and economic trajectory of the international business community. This alignment will enhance the women’s business opportunities as well as increase the country’s capacity for external investment. The informal group of business women were chosen to demonstrate that all categories of business women contributed to the Jamaican society despite their apparent mundane industry and unrecognised contribution. The researched material comes from secondary and primary sources with about a fifty-fifty split. The secondary sources include scholarly articles and books from the West and Jamaica but mainly articles from the West. There were difficulties in general in finding scholarly information about Black female entrepreneurship in Jamaica from individual researchers. This difficulty might be tied to the assumption that Black business owners, especially females from 9 the Caribbean is a myth. Consequently, there are no grounds for research. However, information was found among other non-industrialised countries in the documentation of entities like the Global Entrepreneurship Monitor (GEM). One of the drawbacks about the material found in studies like GEM is that, unlike a researcher might, they do not provide in-depth information on a particular country. Some of the material was found in the research that combined the Caribbean and Latin American countries. Even more challenging was ascertaining the writings on medium- size businesses in Jamaica; most of the information was about micro enterprises. The solution to the problem is the use of primary sources. These sources were mainly from reporters who interviewed the business owners and were documented in the national newspapers, The Jamaica Gleaner and Jamaica Observer. As well as research that was gathered from entrepreneurial websites, such as The Story Exchange, Caribbean Scope and Jamaica Venture Capital. The primary sources, especially the nation’s newspapers, provided up-to-date and relevant information. In addition, they contained more information about medium-size companies than the academic research. The analysis was done from a Jamaican and Eurocentric perspective in order to provide a paper that was well-rounded and authentic. The Jamaican approach is grounded in a historical, geographical, socio-economic and theoretical framework. The study examines the role of Eurocentric ideologies, capitalism and the International Monetary Fund (IMF) and their impacts on Jamaica’s Black female entrepreneurs. In this main section – Factors Affecting Black Female Entrepreneurs in Jamaica, the Caribbean and the United States, which comprises of three sub-sections, I discuss how the components of slavery, colonialism, gender, race, class and the predatory neoliberal polices of 10 the International Monetary Funds are examined from the perspective of the impact on the respective economies. This, in turn, is explored in terms of how it affects the Black female business owners. However, as it relates to the consequences of the IMF, Jamaica and the Caribbean are the focus. 1. Factors Affecting Black Female Entrepreneurs in Jamaica, The Caribbean And The US Scholarly research suggests that the elements affecting Black female entrepreneurs in Jamaica, the larger Caribbean and the United States (US) share similarities and differences that vary historically, culturally, socio-economically and politically (Browne 2001; Robinson, Blockson, and Robinson 2007; Pounder 2015; Terjesen and Amorós 2010; Giménez, Gabaldon, and Seierstad 2017). Within this broader framework, slavery, colonialism, gender, race, class and the International Monetary Fund (IMF) are examined. With regards to the Caribbean the research explores English-speaking business owners in the English-speaking Caribbean countries, which includes Jamaica, and these nations have populations of less than three million. In this section I review the literature on women who pursue entrepreneurship for personal and financial empowerment and how it impacts their countries’ economic development. The review will indicate that while the women’s entrepreneurial activities have effected their respective economies, the impact of the women’s businesses in Jamaica and the Caribbean has more significance than those in the US. This is because the women’s businesses are one of the remedies for their countries’ inadequate macroeconomic measures. In the United States despite the fact that Black females entrepreneurs are major contributors to the economy – being the fastest growing business group in the country – they lag behind the Whites and racialized groups. 11 Entrepreneurs, particularly women, aid in the economic development of a country (Robinson et al. 2007; Pounder 2015; Terjesen and Amorós 2010; Giménez et al. 2017). There is the consensus that female business owners pursue entrepreneurship for individual and financial empowerment (Browne 2001; Robinson et al. 2007; Cody 2017). Personal pursuit involves the desire and convenience to balance family and work while financial pursuance fills the unemployment gap or provides upward social mobility. Both approaches are applicable to Black women entrepreneurs in Barbados and Jamaica and Black American female owners in the United States (Browne, 329; Giménez et al. 45-46; Pounder, 9; Butler 1991; Light 1972; Wingfield 2008 as cited in Cody, 6). Although female ownerships are foremost about empowerment, Allen et al. (2008)6 argues their endeavours impact their countries’ development. In non-industrialized countries, such as Jamaica and Trinidad and Tobago, the role of microenterprise in planning economic growth has increased in importance (Terjesen and Amorós 2010). This has occurred because the development efforts at the macro level have generally failed to reverse or slow poverty. Scholars reinforce the significance of business ownership by reporting that small scale-entrepreneurs, owners of microenterprises, and specifically, female-owned enterprises are noted for their stronger payback rates than male enterprises.7 In the case of industrialised countries, there is evidence to support this theory as well. For instance, in the United States 10.1 million, female-owned companies employ 13 million people and generate US$1.9 trillion in sales. The women’s businesses play a major role in growing the economy.8 As it relates to micro level entrepreneurship, it has long been regarded as an important part of achieving prosperity and 6 Cited in Jose Amoros and Siri Terjesen. 7 Blumberg 1995:196; Van der Wees and Romijn 1995 as cited in Browne 2001, 327. 8 Center for Women’s Business Research, 2010 as cited in Terjesen and Amoros 2010, 313-314. 12 success, notably for marginalised groups (Cody 2017, 6). According to the National Women's Business Council (2004), 365,110 majority-owned, privately held firms were owned by African American women in the United States, more than 6 per cent of all women-owned firms. These Black entrepreneurs employed nearly 200,000 individuals and created more than $14 billion in revenues (Robinson et al. 2007, 131). Despite the enormous contributions and achievements of female business owners, they, particularly women of colour, continue to lag behind businesses owned by Black men and White men and women. The Global Entrepreneurship Monitor (GEM) recorded that of the approximately 60 countries; females comprise just one-third of the world’s entrepreneurs.9 Although not by a significant number, Jamaican Black female entrepreneurs fall behind their male counterparts at a ratio of 17.3 to 21.3 (Giménez et al. 48). Never-the-less, the country’s female entrepreneurial activities are growing at an astonishing rate, and the World Bank recognises this feat.10 While African American female entrepreneurial activities are sluggish, in comparison to other minority groups in the US, they are the fastest growing business group in the country. Businesses owned by Black women account for almost 60 per cent of all businesses owned by African Americans.11 In this sub-section, I explore how slavery and colonialism establish the structure of gender, race and class in Jamaica, the Caribbean and the US. I discuss how the Black female 9 Allen et al. 2008 as cited in Terjesen and Amorós, 313-314; Cody, 6; Giménez et al. 2017, 48. 10 “Female Entrepreneurship Come into Their Own in Jamaica,” March 14, 2016, The World Bank, http://www.worldbank.org/en/news/feature/2016/03/14/female-entrepreneurs-jamaica. 11 US Small Business Administration 20 13 entrepreneurs with were birthed during slavery in response to their exploitation by the white plantation owners. A. Slavery and Colonialism in Jamaica, Caribbean and US Slavery and colonialism are the tenets on which gender and gender disparity, race, class and the financial system was built in Jamaica, the Caribbean and the United States. Gender and gender disparity was cultivated on the plantations and the mode through which the women were exploited. The exploitations necessitated their self-sufficiency and became the avenue for their self-employment. As in the past, class was linked to race and it set the current precedence for the exclusion of the Black women from the business (formal and informal) domain based on their social standing and ethnicity. Gender, race, class and the economic system informs the business environment of Jamaica, the Caribbean region and the United States. Slavery and colonialism were the environments in which the Black female entrepreneurs of today are created. Both systems established a climate of exploitation and injustice for enslaved Blacks by the white plantation class. The profiteering regime maximized their labour, reproductive capacity and the use of sexual violence, which included rape (Paton 2006, 247; Hartman 1993, 80 & 84). Hartman (1997) and Paton argue that the extraction of bodily resources and violations were executed by the plantation owners, but the acts were protected by the legal system (80 & 98 & 256). The archives on slavery and colonialism recorded that because of the need of the enslaved to escape the plantation elite’s profiteering system after the Apprenticeship period in Jamaica and the Reconstruction era in the US; they determined their self-sufficiency through self-employment. 14 The act of self-determination which was expressed through the construction of their own economies set in motion the onset of Black female entrepreneurship. In Jamaica and Barbados, they demonstrated their autonomy through economic self-expression. This was accomplished by growing crops and raising livestock for consumption and for sale in the markets (Paton 2006, 248). In the case of the US, John Butler’s (1991) Entrepreneurship and Self-Help Among Black Americans: A Reconstruction of Race and Economics highlights the self-empowerment of African American female business owners. However, he also notes that there was an arrest in the development of entrepreneurship in the African American community due to Jim Crow and other discriminatory laws which prevented them from selling their goods and services to Whites and others (Robinson et al. 2007, 140). While on the plantations, the women were forced into a gendered system. The plantation systems were based on gender roles, which produced gender disparity. Black female slaves in Jamaica, Barbados and the southern United States worked in feminised roles such as midwives, housekeepers, and seamstresses (Murdoch 2009, 70; Browne 2001, 330). They were relegated to the domain of domesticity.12 In contrast, the Black men worked in skilled jobs such as butlers, wigmakers, and coach drivers.13 The division of such roles which resulted in inequity between the genders transitioned into the present day business world. Class, which is linked to race, played an essential role in the maintenance of the protection of the white bourgeois and the reinforcement of white privilege. While simultaneously it was used for the continuance of the subordination and servitude of the Blacks during the slavery and post-slavery era. The white ruling plantation owners of the social elite were 12 Miott, 62 as cited in Murdoch, 70 & Sutton and Makiesky-Barrow 1981 as cited in Browne, 332. 13 Beckles 1990:51 as cited in Browne, 332. 15 considered “respectable” business owners and this status afforded them the class and social privileges in the society. Conversely, the enslaved and freed Blacks, especially the women, were situated on the lower end of the social spectrum. Even when they were free individuals and their self-sufficiency through employment became more apparent they were still regarded as a social and economic deficit to the society. In this sub-section, I discuss how the business sector defines Black business women in Jamaica, the Caribbean and the US. The women’s characterisation is scrutinised through the obstacles that they encounter because of their ethnicity, gender and class, and the outcomes. B. Race, Gender, Class, and Business in Jamaica, the Caribbean and US Currently, the majority of Black female business owners in the Caribbean have been confined to the service industry. The sector is relatively unskilled as it relates to technology. It includes the area of wholesale/retail with a ratio of 30 per cent female and 20 per cent male (Pounder 2015, 15). While Black Jamaican business women have defied these stereotypical assumptions by working in the field of high-technology/environmental sustainability, it appears that gender disparity is more prevalent in industries that are innovative and male-dominated such as high-technology/environmental sustainability and medical cannabis.14 The inequity is highlighted in the areas of networking, capital accumulation/investment and access to economic opportunities.15 Cody (2017) confirms the research by documenting that the entrepreneurial environment of African American women is hindered by the lack of instrumental support such as financial aid, material resources and services (Cohen and Willis 1985: 313, 163). These obstacles 14 Candiece Knight, “Illegal Ganja Grower Turned Advocate, Consultant,” Jamaica Observer, June 3, 2019, http://www.jamaicaobserver.com/all-woman/kathie-lennon-illegal-ganja-grower-turned-advocate-consultant_166088?profile=1606. 15 Klyver & Grant, 2010; OECD, 2011; Burke, van Stel, Hartog, & Ichou, 2014 as cited in Pounder, 7. 16 interfere with the establishment of their new businesses as well as the expansion of existing companies. The intersection of gender, race and class impacts Black female business owners in a significant way. Blacks are gendered based on their roles as well as on their ethnicity. Murdoch (2009) states that Blacks were gendered as different and “Other” and constructed racially and socially for the purpose of slavery (66). Race informed the formation of the slave economies, which included their social and political order, at the expense of Black slaves. To date, the effects of the systematic organisation of race in relation to power structure continue to be detrimental to Blacks. Black Jamaican informal female entrepreneurs and Afro-Guyanese female business owners encounter the challenges of “otherness” from financial institutions. Scholarly researchers note that because of their ethnicity as well as their lower social standing, they are hindered from acquiring business loans from the lending agencies (Hossein 2013, 53). African American business women also experience impediments because of their race. For instance, Rasheed (2004) shows how ethnicity and also gender (along with education) were found to influence market penetration.16 Cody (2017) explains that African-American female business owners have difficulties obtaining instrumental support, such as clients, particularly white clients (202). As illustrated previously, historically the class system excluded enslaved Black women from the politics of respectability and belonging (Petley 2005, 486). This ideology persists for the present day female entrepreneurs of mainly African ancestry who are precluded from participating in the domain of formal and lucrative businesses (Cody 2017, 10-11). The documentation proposes that women of colour, for example African American owners are 16 As cited in Robinson et al. 2007, p. 140. 17 perceived by the business community as not suited for established and high-rewards sectors like management, science and technology (10-11). In a somewhat similar case, Jamaican Black female informal commercial importers are designated outside the realm of the formal sector because they are not viewed as legitimate entrepreneurs. This perspective is based on their perceived “less prestigious” social ranking which is linked to their race. Consequently, they encounter discrimination from the business community and some state agencies. For instance, they pay higher import duties in comparison to businesses in the formal sector (Claude-Brown 2011, 126-127). While gender, race and class has influenced female business ownership in the US, the Caribbean and Jamaica, as it relates to the impact of the International Monetary Fund, the lending institution has had an equally negative effect on the women in Jamaica and the Caribbean. In the next sub-section, I investigate the how imperialism and capitalism continues to reign in Jamaica and the Caribbean through the International Monetary Fund. I illustrate how the international lending institution’s predacious structural adjustment programs impact the countries negatively. This, is turn, has undeniable detrimental consequences on Black female entrepreneurs. C. Imperialism and Capitalism – IMF and its Impact on Jamaica and the Caribbean The International Monetary Fund’s adverse policies have negatively affected the Caribbean countries’ economies through the outcome of high inflation rates. These inflation rates have stagnated the growth of the women’s businesses. In the 1980s Jamaica, Trinidad and Tobago and Guyana adopted the IMF’s intermediate monetary policy17 which is based on the 17 Policy that is applied to any economic variable, which is vital to economy and affects the inflation performance. 18 exchange rate. The countries embraced the solution in an attempt to reverse their downward macroeconomic trends. The regulation was implemented through the organisation’s predatory neoliberal structural adjustment programs.18 The nations descending macroeconomic trends were as a result of the global recession and OPEC’s multiple oil increases in the 1970s (Weis 2005, 118; Bolles 1991, 23). While the purpose of the IMF’s exchange rate policy was to reverse the countries’ economic dilemmas, it had the opposite effect. It increased the countries’ inflation rates. In 2010 the inflation rate of Jamaica, Trinidad and Tobago and Guyana were approximately 15 per cent, 10 per cent and 6.5 percent respectively.19 High inflation rates cause high interest rates. The hike in the countries’ interest rates was and continues to be a hindrance to Black female entrepreneurs. These obstacles occur because they impede the women’s borrowing potential for business loans from lending institutions. This, in turn, interferes with the establishment of their new businesses as well as obstructs the expansion of existing companies. The national newspaper reported that Jamaican Black business women experienced difficulties in accessing loans for their businesses due to the high interest rates.20 One of the redresses for the steep interest rates was to control the high inflation rates by converting from an exchange rate target21 to an inflation target22 as the monetary policy anchor.23 In recent years 18 Structural adjustment programs are programs for economic reforms aimed at improving or liberalizing economies which are advocated and imposed by IMF (and World Bank) on developing countries in exchange for new loans. 19 The Bank of Jamaica’s website; Central Bank of Trinidad and Tobago’s website; The Bank of Guyana’s website as cited in Roberts 2012, 104-105. 20 First AngelsJa Successes | Patria-Kaye's journey up to Sweetie highway,” The Jamaica Gleaner, January 18, 2018, http://jamaica-gleaner.com/article/news/20180118/first-angelsja-successes-patria-kayes-journey-sweetie-highway. 21 An agreed exchange rate system in which certain countries pledge to maintain their currency exchange rate within a specific fluctuation margin or band – a target zone arrangement and is influenced by the IMF. 22 A monetary policy where the central bank (of the country) sets a specific inflation rate as its goal. Its spurs the economy by encouraging purchases now before they cost more. Most central banks use an inflation target of 2%. 23 Mishkin 2000; Croce and Khan 2000 as cited in Roberts, 96-97. 19 Jamaica has switched from an exchange rate target that is a managed float to a market-determined exchange rate. The inflation rate becomes the anchor for its monetary policy.24 This strategy aligns with the fiscal policies of “advanced” countries which began in the 1990s (Roberts, 96-97). Caribbean economists and scholars recommend that Trinidad and Tobago and Guyana adopt the inflation target method. In sum, in Jamaica, the Caribbean and the US, slavery, colonialism, gender, race, class and the IMF’s draconian regulations adversely impact the Black female business ownership. Overall, an in-depth examination is needed on the effects of state and institutional policies on the business owners. In addition, regarding Jamaica and the larger Caribbean, more research is required on the owners of medium to large companies as well as on “non-traditional” sectors. As it relates to the measurement of the overall economic growth of the Caribbean which includes Jamaica, more investigation from individual scholars (not organisations) is essential for English-speaking countries with a population of less than one million. In this main section – Historical and Global Factors Affecting Black Female Entrepreneurs in Jamaica, which consists of two sub-sections, I probe how during slavery the various racial, socio-economic and class stratifications established the structure of the Jamaican society. In addition, an analysis on the destructive consequences of the structure on Black female business owners is employed. Finally, an investigation into how the Apprenticeship period was utilised as a transitional tool by the women to convert from the agricultural arena to the import sector and from the local to international markets, is explored. 24 Bloomberg Markets: The Close, “How Jamaica Is Using Reggae To Communicate Monetary Policy,” April 15, 2019, https://www.bloomberg.com/news/videos/2019-04-15/how-jamaica-is-using-reggae-to-communicate-monetary-policy-video. 20 2. Historical and Global Factors Affecting Black Female Entrepreneurs in Jamaica Slavery, colonialism, gender, race, class and the IMF’s neoliberal structural adjustment programs negatively impact Black female entrepreneurs in Jamaica in specific ways. Yet, the literature shows that women contribute to the Jamaican economy both as informal (necessity based) or formal (opportunity based) business owners. Studies document that Caribbean female entrepreneurs including Black Jamaicans add to the transition of their economies from efficiency-driven to innovation-driven environments.25 According to Terjesen and Amorós (2010) business owners’ reasons for the transformation of their nations’ economies is based on either an opportunity or a necessity (314). In Jamaica’s scenario, the metamorphosis is grounded in both cases. The opportunity-based entrepreneurs have a ‘pull motive’ such as the desire for independence, income, challenge, status and recognition. In contrast, ‘necessity-based’ owners are ‘pushed’ into entrepreneurship because they do not have a choice (314). Noorderhaven et al. (2004) states that the needs-based ownership is created under conditions where the individuals are encountering an underdeveloped labour market or low wages.26 Furthermore, low and middle income countries, Jamaica being a middle income nation-state, tend to have the highest rates of necessity-based entrepreneurship, especially among females.27 However, Jamaica contradicts the studies since it appears to be relatively closer to an equal split between opportunity and necessity-based business ownership. 25 Singer et al. 2015 as cited in Giménez et al. 2017, 45. 26 as cited in Giménez et al., 52. 27 Minniti et al. 2006; Verheul et al, 2006; Allen et al, 2008 as cited in Terjesen and Amorós, 314; Rubach et al. 2015 as cited in Giménez et al. 2017. 21 Regardless of the personal motivation or economic circumstances that produce the “pull motive” or “pushed” Jamaican female entrepreneurs, Robinson et al. (2007) emphasises that social stratification in the form of social structure, institutions and culture influence the context, process, experience and outcomes of entrepreneurship (131). The researchers further explain that social stratification is the result of institutional processes that partition societies into advantaged and disadvantaged socially constructed groups. It is recorded in the US that the system includes groupings by gender, race/ethnicity, wealth, and class.28 The concept applies to Jamaica because the negative effects of slavery and colonialism have aided in the creation of informal and formal entrepreneurs. Moreover, both groups are categorised according to their race and class and social standing, which determines their economies. In the following sub-section, I discuss how during slavery the various racial, socio-economic and class stratification informed the structure of the Jamaican society. The implications of how enslaved women of African ancestry were commodified through their race, gender and sexuality is investigated through the various tools of control. A. Slavery & The Plantation System – Maintenance of the Whiteness & Privilege in Jamaica Slavery laid the foundation and established the race, class and socio-economic structure of contemporary Jamaica. During the slavery period, these elements created the conditions which have led to the characterisation of Jamaicans, particularly those mainly of African ancestry as subaltern subjects of capitalism for the Global North. The institution of slavery emphasised the contestation among the white plantation elite, enslaved Blacks and mixed-race individuals. The contestation was due to the overlapping of racial identities and the clashing of classes and socio- 28 Massey and Denton 1993; Spilerman 2000 as cited in Robinson et al., 132-133. 22 economic rankings. Even though there was the overlying of these components, there was also stratification which was further complicated by the introduction of Chinese and Indians as indentured servants after the Abolition of the Slave Trade (Murdoch 2009, 67-68). The purpose of the indentured servants was to fill the gap of the labour shortage (68). Furthermore, the immigration of Lebanese and Syrians years later added even more racial, economic and social tension. The layering of the different race, class and socio-economic factors was reinforced by the government (British representatives), the legal system and social conventions. The outcome was that the white dominant class was positioned with the greatest advantages, while Blacks were situated with the greatest disadvantages in comparison to the other ethnic groups. This trend continues in the society today but with some exceptions. Petley’s (2005) work resonates with Murdoch’s research. The historian declared that privileged Whites used the laws and social norms to strengthen their established economic and social order. This was done through the continued subjugation of enslaved and freed Blacks. The instruments of control involved the transferences of inheritance through wills, the purchase of freedom through manumission29 as well as the strict adherence to social conventions (481). For example, the white ruling class and plantation elites ensured that the majority of the inheritance was given to their mostly white male heirs or at least to family members. Children of miscegenation received a small portion of wealth from their white “fathers,” while children of African descendant did not inherit wealth (485). The lack of inheritance situated Blacks at a socio-economic disadvantage from the outset; such consequences have transitioned into the contemporary society and business community. 29 Manumission – released from slavery through the purchasing on one’s freedom. 23 With regards to manumission, women of African ancestry were more unlikely to obtain their freedom than their biracial counterpart (485). However, this did not deter them. Verene Shepherd, Jamaican social history scholar, asserts that the women used the proceeds from the sale of their livestock that they produced in "pens” owned by whites and persons of mixed-race to purchase their freedom.30 Non-marriages between Blacks and Whites, particularly Black women and White men, was an example of the strict adherence to social conventions. Matrimonies were not allowed because they would have legitimised the socio-economic status of Black women. The unwanted outcome being the destabilisation of the racialization on which the society was built (Petley 2005, 482). Next, the analysis of the Jamaican Apprenticeship system31 and its use of regulatory measures sheds light on how it affected Blacks – especially the women – as well as how it ushered the Black women on the path of entrepreneurship. This is examined through concept of memory-political nexus. B. The Apprenticeship System in Jamaica – A Pathway to Black Female Entrepreneurship In Jamaica’s history the Apprenticeship system is a key component of colonialism and is distinguished as such because it symbolically marks the end of slavery. It also provided Black women access to greater self-sufficiency and eventually entrepreneurial activities that developed from the local to the international level. Colonialism through the Apprenticeship system should 30 “Black Jamaicans Have Strong Tradition of Entrepreneurship – Academics,” Jamaica Observer, February 12, 2012, http://www.jamaicaobserver.com/magazines/career/Black-Jamaicans-have-strong-tradition-of-entrepreneurship--academics_10730389 31 Apprenticeship System is the period after abolition of the slave trade in 1804 and the British Emancipation Act of 1834. Even though the slaves were free they were expected to work for the plantation owners but under new regulations that were supervised by the British government appointed representatives – special magistrates. 24 have “improved” the lives of the ex-slaves in Jamaica. However, there is the consensus among Black scholars that it is an extension of slavery and, might I add a system cloaked in white privilege and hypocrisy. However, it advanced the transformation of Blacks, particularly the women, from the status of ex-slaves to entrepreneurship. The females’ metamorphosis transpired when colonialism took center stage with the passing of the Slave Trade Abolition Bill in Britain in 1807. The research disclosed that the Bill of 1807 was successful because of the numerous revolts, the antislavery movement, and a Caribbean economic downturn (Murdoch 2009, 72). The legislation caused the enactment of the British Emancipation of 1834. Paton (2006) commented that while it did not terminate the free labour of the ex-slaves, it changed the dynamics of the plantations’ operations which gave the freed Blacks limited “rights” (249). The restricted rights included the replacement of chattel slavery with compulsory labour. Even though the apprentices were required to work without pay, there was a specified work schedule of forty hours per week. Even when the apprentices’ refusal resulted in imprisonment or additional labour, the punishment was enforced by the stipendiary magistrates and not the property holders (249). More importantly, Apprentice-holders who violated the laws by illegally mistreating apprentices could be punished but only by fines (249). Although one of the purposes of the Apprenticeship system was to reconfigure an amicable association between the state, property holders and “freed” Blacks it was a site of contestation. Since the plantation elite lost the right to discipline “freed” Black women directly, the women took it as an opportunity to increase their assertiveness in voicing their new rights (249). For instance, Paton stated that with their new “entitlements” the females expected that their former owners would obtain their consent regarding sex and continued with the provision of food, clothing and medical care (250-252). However, these expectations were met with 25 resistance and more violence. The property holders and overseers placed their focus on psychological abuse as opposed to physical injuries because of the legal consequences. They mentally abused the women through the use of misogynistic and sexist language. This included the characterisation of the women’s bodies to certain animals (251 & 253). The magistrates who were the legal representatives of the government and were responsible for fining property owners who violated the laws regarding the female apprentices failed at their duties. Paton (2006) affirmed this statement by chronicling that the magistrates and the law did not grant the “freed” Black women the dignity of controlling or representing their bodies (257). Based on this premise, the politics of identity, according to the state and legal system, dictated that the women were not victims; they were situated outside the law and disregarded as citizens and therefore unworthy of protection. This school of thought has evolved into the contemporary Jamaican society and its business community. As a result, the identity of Black women as women and as business women, particularly those from the lower social standing, is always in question. The question of identity formation being linked to social status in the past and traversing into the present is investigated through the concept of memory-political nexus. Radston and Schwarz (2010) examine the memory-political nexus in terms of how the memory of slavery affects the present. The scholars clarify that the principle is a demonstration of the various ways in which memory works in the public sphere and everyday life. Moreover, it is an analysis of how the physical and psychological violence of the past and present is perpetrated by states, groups and individual within a historical context (3 & 6). As the researchers document, memory is active, forging its pasts to serve present interests. 26 In addition to the association between identity and social standing, the tenet of memory-political nexus is used to scrutinise Black women’s economic future through land ownership of the past. For instance, Paton (2006) acknowledges Radstone and Schwarz’s memory-political nexus from the point of view of probing how the past has predicted the future. Paton has done so by exploring how the females chartered their path of businesses through self-employment after the Apprenticeship period. The women illustrated their economic independence by creating their own economy. This was accomplished through the raising of livestock and the growing of crops such as coffee and pimento for consumption and sale at the markets (248). However, Shepherd notes that the women’s entrepreneurship began even before slavery was abolished in 1838. Enslaved Blacks raised pigs and chickens on livestock farms which were owned by whites and persons of mixed race.32 Despite their self-sufficiency, the Jamaican social history scholar points out that Blacks’ entrepreneurial growth was hindered by discriminatory laws. As a result of the prejudicial legislations, they were prevented from participating more in the island’s economy from the 18th through to the 20th centuries.33 Veront Satchell, a Jamaican historian scholar concurs with Shepherd’s research regarding the obstacles of the racist regulations. Satchell pronounces that during colonialism in the 1860s the government (British representatives) passed laws for the surveying and taxation of land. This resulted in a number of Blacks being evicted from the lands they had paid the plantation overseers to acquire.34 The damaging guidelines were further exacerbated by the fact that Chinese and Indians who came to the country in the 19th and early 20th century were offered land after their period of indentureship ended. The government 32 “Black Jamaicans Have Strong Tradition of Entrepreneurship – Academics,” Jamaica Observer, February 12, 2012, http://www.jamaicaobserver.com/magazines/career/Black-Jamaicans-have-strong-tradition-of-entrepreneurship--academics_10730389 33 “Black Jamaicans Have Strong Tradition of Entrepreneurship.” 34 Ibid. 27 made the option a part of their immigration package. However, people of African descent were not offered land after slavery ended.35 Moreover, with regards to the purchase of land, the authorities exercised their right to waive the 10 per cent deposit concerning the other ethnic groups. Yet, freed Blacks were not given that opportunity.36 The biased laws and the injustices placed them at an economic but also a social disadvantage since the land facilitated their businesses. Satchell declares that the landlessness and inequity towards Jamaicans of African ancestry was one of the reasons for the Morant Bay Rebellion in 1865. The uprising may have influenced the acquisition of 30,000 acres of Crown colony land by more than 3, 200 Blacks between 1895 and 1910. The scholar announces that from there, the ex-slaves successfully transitioned their entrepreneurial activities from engaging with local individuals to overseas companies and markets. The self-employed business owners, especially the women, grew yams for export to Central America. In the 1970s as small traders, they sold escallion to Central America and Florida. In addition, the female entrepreneurs were the chief suppliers of bananas to the United Fruit Company for export to the United States.37 Decades later in the 1980s some of the female traders transitioned from the agricultural arena to the importation and distribution of goods and small-scale manufactured products. The group was officially recognised and classified by the government as the informal commercial importers (ICIs) (Weis 2005, 122-123; Brown-Glaude 2011, 120). In sum, Black women become entrepreneurs because of a need or an opportunity which in turn assists with the economic growth of their countries. This concept is applicable to Black 35 Ibid. 36 Ibid. 37 “Black Jamaicans Have Strong Tradition of Entrepreneurship – Academics,” Jamaica Observer, February 12, 2012, http://www.jamaicaobserver.com/magazines/career/Black-Jamaicans-have-strong-tradition-of-entrepreneurship--academics_10730389 28 Jamaican business owners and the Jamaican society. In Jamaica during slavery the women became entrepreneurs based on a need since they were being exploited by the system of whiteness and white privilege. The Apprenticeship System was the period when the business women’s entrepreneurial activities transitioned from the local to the overseas market, while decades later they converted from agriculture to manufactured products. These developmental stages were fraught with race and socio-economic discrimination. In this main section – Business in Jamaica as a Gendered System – Disparity, Race and Class But Human and Social Capital as Interrupters, which is divided into three sub-sections, I examine how Jamaica’s business sector is gendered which produces disparity. The gendering and inequity is depicted in the home and the workplace. As a result, Black women have used entrepreneurship as a solution for both the private and public domains. In addition, the research illustrates the gender variations between business men and women and (mis)conceptions about Black business women in Jamaica. These complexities are further complicated by the classification of the business women according to their ethnicity and class; thereby creating the informal and formal Black female entrepreneurs. The study will portray that the informal commercial importers from the informal industry are regarded as deviants by the business sector and the government based on their Blackness and low social ranking. This, in turn, has had adverse effects on their identity as women and as business women. I will show that the women’s redress for their imposed atypical image and detrimental business consequences are reclassification and strategic sourcing and allyship. In contrast, I portray how the middle class Black business women from the formal sector are somewhat shielded from the impact of their race. This is due to their advance education, training and expertise and their relationships and networks that they garnered from the 29 corporate world. While these factors have been beneficial in the commencement and expansion of their businesses, the acquisition of capital from the lending institutions has been a challenge. As a corrective measure the women utilised regional and international sources for their high-technology/renewable energy and manufacturing industries. All these factors are illustrated in case studies. They are three female business owners from the formal sector – Kathie Lennon, Valrie Grant and Patricia-Kaye Aarons from the medical (cannabis), high technology/renewable energy and manufacturing, respectively. And a group of informal commercial importers from the informal sector which includes Judith and Conseta. 3. Business in Jamaica as a Gendered System – Disparity, Race and Class But Human and Social Capital as Interrupters The studies have shown that slavery and colonialism are the modes through which the plantations unfolded a gendered system. The gendered system defined the women and men in terms of their identity as female and male and in their roles as feminine and masculine. As it related to their roles the plantations’ operations sanctioned the inequity between women and men. To date, this framework of gender stratification continues in the homes and the workplaces (Browne 2001, 327). Therefore, Black women view self-employment through business ownership as a recourse for gender roles in the private domain. They also consider it as a corrective measure for gendered roles and gender inequalities in the work environment and the field of commerce. Self-dependency as a redress validates the general point of view that female business owners pursue entrepreneurship for personal and economic empowerment (Browne 2001; Robinson et al. 2007; Cody 2017). This principle exists in Caribbean countries that have a 30 high portion of female-headed households, as well as in the cases where economically active women coexist with the ideology of patriarchy.38 In order to get a better understanding of Jamaican Black women’s need to enter the field of commerce due to gender role and inequity and therefore necessity, the statistics must be taken into account. In Jamaica, 45.5 per cent of the population are female-lead households.39 The women of mainly African descent share the duties with their male partners, the fathers that are not living in the households but are engaged in the families and/or their relatives.40 Irrespective of their social position, women bear the domestic responsibilities, including caring for the children and the elderly.41 The studies portray, however, that women of lower social standing carry more of the financial and domestic obligations than those of their middle class counterpart. Working class females produce, provide, control and manage the resources of the families.42 During the economic crisis in the 1980s the men were unable to support their families as they had done in the past due to the high unemployment.43 Therefore the women continued to provide the full range of material and non-material resources for themselves, dependents and the broader domestic networks. They achieved this feat while experiencing unemployment, underemployment or being employed in dead-end, menial and poorly paying jobs (Bolles 1991, 22). The adverse working conditions during that time were primarily due to the detrimental impact of the structural adjustment programs of the International Monetary Fund. These policies 38 Massiah 1993; Scott 1990; Smith 1998:134 as cited in Browne 2001, 328. 39 Davies and Anderson 1987: iii as cited in Bolles, 1991, p. 20; Push For Greater Gender Equality, 2012. 40 Bolles 1985 as cited in Bolles, 1991, 22. 41 “Push for Greater Gender Equality! ,” The Jamaica Gleaner, September 30, 2012, http://jamaica-gleaner.com/gleaner/20120930/focus/focus6.html. 42 Durant-Gonzalez 1982:3 as cited in Bolles, 1991, 22. 43 Bolles 1985 as cited in Bolles 1991, 22. 31 were implemented by successive governments since the late 1970s as a solution for the country’s economic decline (Bolles, 21). It was in this period that gender disparity in the workforce became pronounced. Yet, the inequity was even more evident in 2012 when it was discovered that women were concentrated in the lowest-paying sectors of the economy. Surprisingly women comprised of 46.0 per cent of the labour force, but their unemployment rate stood at 16.8 per cent. In comparison, the men’s was 9.5 per cent.44 In 2011 the government attempted to address the difference between the genders through its approval of the Jamaica National Policy for Gender Equality (NPGE).45 While admirable unfortunately, the government’s redress fell short. It was reported in The Jamaica Gleaner that, in 2013, Jamaica placed 47th in The Gender Equality Report’s rankings. This is a disappointing rating taking into consideration that the nation was ranked number one in legislators, senior officials and managers with a female to male ratio of 1.45. The country faltered in the category of Wage Equality for Similar Work with a ranking of number 76 – female to male ratio of 0.64 female.46 Based on the dismal ranking, it is understandable that the glass ceiling is still in place, and it continues to be an instrument of differentiation between the genders.47 The reporter added that in corporate Jamaica, although the women produce the reports, the men still make the decisions. Scholarly research supports the writer’s assessment by announcing that females have a special incentive to be self-employed. 44 “Push for Greater Gender Equality! ,” The Jamaica Gleaner, September 30, 2012, http://jamaica-gleaner.com/gleaner/20120930/focus/focus6.html. 45 “Push for Greater Gender Equality! .” 46 Andrena McMayo, “Gender Inequality - a practical perspective, “The Jamaica Gleaner, March 13, 2014, http://jamaica-gleaner.com/gleaner/20140313/letters/letters7.html. 47 McMayo, “Gender Inequality.” 32 Self-reliance is a means of eliminating barriers such as the glass ceiling that has been imposed by the employers.48 Researchers illustrate gender variations in the entrepreneurial world by stating that female and male entrepreneurs are motivated by different interests and have different patterns of work organisation and growth management.49 Pounder (2015) further seeks to highlight gender difference by chronicling that female business owners in the Caribbean focus their efforts on one venture (5). This school of thought is applicable to Jamaican female owners. Furthermore, the researcher remarks that in contrast to their male counter-part Caribbean women are opposed to continually looking for opportunities in risky markets. It is likely they may even settle instead of looking for growth and opportunities (5). In this sub-section I demonstrate how Kathie Lennon, a Black Jamaican female entrepreneur disrupts Pounder’s theory that Caribbean business women play it safe when it comes to establishing and operating their companies. Using Lennon as a case study, I will show how she is an example of a female business owner who entered the unchartered and male-dominated ganja50 industry. And even though the owner encountered gender disparity, she utiltised social capital such as partnerships with companies overseas in order to maximize her market’s reach. 48 McKay 1993:278; Van der Wees and Romijn 1995:63; Wells 1998 as cited in Browne 2001, 328-329. 49 Barahona 1995:147; Blumberg 1995:207; Espinal and Grasmuck 1997; GEMINI 1991 as cited in Browne, 2001, 329. 50 Ganja is the Jamaican name for marijuana and cannabis 33 A. Kathie Lennon: Case Study – A Contradictor of Business Theories & Disruptor of the Ganja Male-Dominated Industry Black female business owners in Jamaica counter Pounder’s study that Caribbean business women are unwilling to take on the challenges of risky business ventures and growth and instead settle. Kathie Lennon, an advocate, cultivator and entrepreneur of KML Agroconsulting Ltd and Director of Leaf of Life, is an example of a business owner that has not settled. Instead, business owners like her have confidently taken on the challenge of establishing their businesses in risky areas that are usually reserved for men. One such arena is the medical cannabis industry, which is a relatively new sector.51 The Jamaican ganja industry from a commercial perspective remains an unchartered territory. Yet, the women have demonstrated their willingness to become stakeholders. As entrepreneurs, cultivators, researchers and consultants they have advocated for its legalisation and invested in its commercialization during and since its decriminalization. Lennon, an advocate, cultivator and entrepreneur and director is a representation of this business model. The owner has facilitated the growth of the cannabis industry through education, locally and internationally.52 The business owner has further debunked Pounder’s idea that Caribbean women would settle instead of seeking growth and opportunities by partnering with companies overseas. As such, as the Director of Leaf of Life, Lennon partnered with the House of Hemp South Africa to set up an indigenous knowledge-based system for that industry.53 Pounder (2015) focuses on the differences between business men and women by declaring that the non-pursuance of high risk entrepreneurial activities places the development of female 51 LeVaughn Flynn, “Weed Ed | Four Jamaican women impacting the Cannabis industry,” The Jamaica Gleaner, April 15, 2019, http://jamaica-gleaner.com/article/news/20190415/weed-ed-four-jamaican-women-impacting-cannabis-industry 52 LeVaughn, “Weed Ed.” 53 Ibid. 34 entrepreneurs at a slight disadvantage. According to the scholar, the women’s insignificant developmental mishap is due to the fact that there is no differentiation for support between male and female groupings of entrepreneurs in the Caribbean. Therefore both groups are perceived to face similar barriers to entry and continuity. Based on this premise the female entrepreneurs are not classified as a disadvantaged group even though they lag behind male entrepreneurs (5). Pounder’s analysis that there is no differentiation for support between male and female groupings of Caribbean entrepreneurs is too general, although it does have some element of truth. For instance, Jamaica’s entrepreneur Patricia-Kaye Aarons of Sweetie Confectionery reported that until recently, it was easier to obtain a car loan than a business loan from the commercial banks.54 The implication being that it was difficult for both women and men to receive a business loan. However, the researcher’s suggestion that there is equal disadvantage between entrepreneurial women and men is contrary to other research particularly as it relates to the garnering of capital. Studies show that when it comes to capital acquisition women have less access than men.55 The literature on women’s entrepreneurship states that gender inequality can impact women’s entrepreneurial activities. As a result, gender disparity hinders the access to social capital such as relationships and social networks, which limits their abilities to start and sustain their businesses.56 Jamaican female business owners from the medical marijuana industry have highlighted that gender inequity exists due to biases and we can infer that it may have impacted 54 “First AngelsJa Successes | Patria-Kaye's journey up to Sweetie highway,” The Jamaica Gleaner, January 18, 2018, http://jamaica-gleaner.com/article/news/20180118/first-angelsja-successes-patria-kayes-journey-sweetie-highway. 55 Brush, Carter, Gatewood, Greene, & Hart, 2001; Coleman, 2007; Sabarwal & Terrell, 2008; Gatewood, Brush, Carter, Greene, & Hart, 2009 as cited in Pounder, p. 9. 56 Loscocco et al. 2009; Renzulli and Aldrich 2005; Renzulli, Aldrich and Moody 2000; Brush et al. 2002; Brush et al. 2017 as cited in Cody 2017, 12. 35 the number of female business owners that have entered the field. Lennon alluded to this by commenting that she has experienced gender intolerance in the male-dominated marijuana industry.57 She further added that regardless of the fact that 70 per cent of ganja farmers are men, it is essential that women join the enterprise as a means of providing for their families.58 The entrepreneur’s perspective aligns with the country’s Minister of State in the Ministry of Finance and Public Service, Fayval Williams’s countermeasure for the inequity, as well as for the promotion of growth for women entrepreneurship. Both women agree that as a general rule women need to possess a broad understanding of the business and factors that drive success which includes social and human capital.59 Lennon has demonstrated her understanding of the cannabis business and the critical need for the use of social capital by developing partnerships overseas with companies like House of Hemp South Africa. In addition, to the use of social capital as a means of establishing their businesses in the market, the positioning of their products in the international marketplace is another way in which the Black female marijuana farmers can eliminate the deficit in relation to their male counterpart as well as grow their businesses.60 These business styles are being modelled by Lennon. For instance, the owner is assisting with the establishment of cannabis wellness-tourism as a product for the foreign and domestic market.61 Lennon’s business strategy reflects the vision and objective of Jamaica’s ganja industry which provides a product that is unique to the country. Therefore the businesses are based on 57 LeVaughn Flynn, “Weed Ed | Four Jamaican women impacting the Cannabis industry,” The Jamaica Gleaner, April 15, 2019, http://jamaica-gleaner.com/article/news/20190415/weed-ed-four-jamaican-women-impacting-cannabis-industry. 58 LeVaughn, “Weed Ed.” 59 Knight 2019; Scott 2017. 60 Lee et al, 2012 as cited in Williams 2013, 142. 61 Flynn 2019; Knight 2019. 36 products that are informed by the cultural context. This means that they are grounded in Rastafarianism62 and health and wellness through continuous education and research. This includes the exportation of the products as well as the continued partnership and collaboration with international companies. In this sub-section, I scrutinise how race and class defines the identity of the Black female entrepreneurs from the informal sector as women and as business women. I illustrate that based on their ethnicity and less prestigious standing, the informal business owners are regarded as deviants by the business sector and the governmental agency (JCA). Consequently, their identity as women and as business women is questioned. This, in turn, has had dire consequences on their businesses. In response, the business owners use the strategy of reclassification and strategic sourcing and allyship as solutions. This exploration will be conducted through a case study comprising of a group of women – informal commercial importers (ICIs). The study is drawn primarily from Brown-Claude (2011) “Higglers in Kingston” and to a lesser extent Athaliah Reynolds’ 2009 newspaper article, “Higglers’ Paradise, Jamaican ICIs Take Advantage of Low Prices in China.” B. ICIs: Case Study – Race and Class Defines Black female Identity as Women and Business Women in the Informal Sector in Jamaica Race and class designate the individuals who are deemed worthy for the business world and suitable for a certain social standing in the society. The assignment affects their economic 62 Rastafarianism is a religious movement of Jamaican origin. The Rastas use ganja as part of their religious ritual. The religious beliefs holds that Blacks are the chosen people and are from the lineage of Emperor Haile Selassie of Ethiopia. Emperor Haile Selassie of Ethiopia is the Messiah because he is from the line of David through King Solomon and Queen of Sheba. The religion states that Blacks are kings and queens of Africa and will eventually return. 37 outcome. However, education, training and expertise are mechanisms through which racialized persons can gain upward mobility on the class and economic ladder. Ethnicity and class along with education, training and expertise, have created the informal and illegitimate and formal and legitimate entrepreneurs. The association between race and class which influences economics will be explored in the context of the informal commercial importers. This will take into account how their identity as women is viewed as queer and is linked to their identity as business women – and how the connection has negative business implications for them. “Higgler” is the general name for self-employed female Jamaicans within the micro industry (Brown-Glaude 2011, 123). As a group, the informal commercial importers (ICIs) is an example of this category, but they do not identify with the name. The disassociation is deployed because the women recognise the term as a form of labelling that situates them within a lower class in relation to other women and business owners (123-124 & 132). The fact that they are classified as mainly Blacks and are from the working class with a high school education or higher, is irrelevant to the importers (123). The business community make the distinction that the importers are from the lower social standing and are also a part of the informal arena; therefore they do not consider the women as entrepreneurs. In contrast, the business sector recognises that the Black female business owners from the middle class – possessors of advance education, industry training and expertise, as part of the formal sector. The community also endorses these owners as legitimate entrepreneurs from such industries as high-technology/renewable energy, manufacturing and medical marijuana. Since the informal importers’ ethnicity and class define their identities as women and also as business women, being misidentified as atypical adversely affects their entrepreneurial opportunities and the growth of their businesses (Brown-Claude 2011, 126-129). From the 38 perspective of Morris Cargill, a white male Jamaican journalist of influence, the informal commercial importers were “Other”. The renowned journalist in the editorial entitled “On Higglers” in The Jamaica Gleaner of August 10, 1986 pondered if the women’s bodies were a result of selective breeding. This racist reference to animals and husbandry is a concept that has transitioned from the slavery and colonial era. The importers’ bodies are considered asexual and are therefore deemed undesirable. This is based on the premise that they do not conform to the standard of Jamaican femininity of some Black, “brown”, biracial and White females. The customary model is a slender and demure woman (119-120 & 123). Identity, as it connects to the classification of femininity, is formed within the boundaries of the social, spatial and historical context. Consequently, the society constructs femininity from a racialized, class and sexualised perspective. From a business point of view, Cargill’s perception that the females took advantage of the citizens and the authorities is a reflection of the public’s views. Both parties were of the opinion that the importers need to be controlled and contained by the government (119-120). This representational framework establishes the women as queer and their contribution to the economy as insignificant. Never-the-less, the business women continue to reject the negative identities that have been imposed on them by highlighting their contributions to the nation. They have asserted that as economic contributors they have aided in sustaining the country through income generation for the government and the employment of workers such as sales representatives and repairmen since the 1980s (Brown-Claude 2011, 120 & 125). The entrepreneurs have also voiced their concerns that despite their benefits to the country, because of their race and working class position which is associated with a variant status, they continue to be relegated to the status of illegitimate business women (121). 39 The economic consequences of the women’s continual disqualification from the business sphere is evident since the enterprising importers have expressed that their businesses are as not as prosperous as in the past. According to the women, one of the reasons for their decline in profitability is related to the lack of respect from the business community (130). Hossein’s (2013) research aligns with the female importers’ assessment by examining ethnicity and class as the focal point, which in turn affects respectability. The scholar, like Brown-Claude, scrutinises the impact of ethnicity and class on Black informal entrepreneurs and the financial repercussion. Hossein states that race and class affects the allocation of financial services. As a result, the identities of the individuals seeking these loans can negatively influence their access at the micro level (52). For instance, in Jamaica, the management team of the commercial banks are dominated by educated middle class females, including “brown” women. There is a tendency for the managers to dispense loans to middle class business women because they can identify with the group, and they are considered as less risky (56-57). As a result, Black women like the informal commercial importers who do not fit into the middle class status and the conventional social expectations are excluded from loan services (59). In order to counteract such hurdles as a stagmised name associated with a particular race and class, the women replaced the name “higgler” with the term vendor. The management of their destigmatisation is done by the professional organisation, The Jamaica Higglers, Vendors and Marketers Association. The reinforcement of the perception of their images as respectable owners of businesses is a continuous endeavour (Brown-Claude 2011, 121 & 123-124). The association also advocates for their business rights, as well as their legal and political rights regarding their business operations (12). The strategy is implemented with the understanding that 40 an image of legitimacy and respectability obscures race and class and translates into better business opportunities. At a micro level the importers have used reclassification as a tactic to combat the racialized and subaltern class that has been imposed on them by the business sector. The author Brown-Claude states that at a macro level the imposition has also been placed on the business women by governmental agencies, namely The Jamaica Customs Agency (JCA). I will portray how the agency’s infliction has had detrimental consequences on the informal importers’ businesses. The Jamaica Customs Agency (JCA) is an entity that is associated with the business sector. The agency’s economic impact on the importers is just as destructive as the financial institutions. Due to the body’s regulations, the female importers emphasised that they pay higher duties in comparison to the formal sector businesses. They equate the inequity of treatment to class oppression (131). The women explained that they compete with business owners from the formal industry, such as Jamaicans of Syrian and Lebanese heritage. These entrepreneurs are giants in the retail, tourism, manufacturing and horse-racing arena and are a part of the white economic elite. The informal commercial importers further explained that these “brown” business owners have access to privileges that go beyond economics, such as public respect. This is based on their contribution to the economy (126-127). To further complicate the matter, the Jamaica Customs Agency’s employees associate the women with illegality such as drugs. Therefore the entrepreneurs announced that they are targeted with regards to the importation of their products (Brown-Claude 2011, 126-127). The entrepreneurs maintain that the prejudice policies of the government are based on their ethnicity and class and the inflicted deviant status. 41 According to Jones, McEvoy, and Ram (2010), ethnic minority women face double disadvantage due to their ethnicity and gender.63 Although the state’s guidelines of higher importation fees have increased their operational costs and reduces their profit margins, the importers have devised various solutions. One of the remedies the importers such as Judith and Conseta utilised is strategic sourcing: a tactic which reduced their overhead expenses. This countermeasure involved the purchase of products mainly from China instead of their traditional markets like the United States and the Caribbean. Additionally, they used their allyship to share the cost of bulk purchasing, travelling and importation expenses.64 In the following sub-section, I examine how the middle class Black female entrepreneurs from the formal sector, despite their ethnicity, have greater access to the business world. This is due to their advance education, training and expertise, alliances and networks. I will demonstrate that while these elements have been favourable for the establishment and growth of their businesses, the acquisition of capital has been a challenge. Although mentorship is regarded as one of the redress for this obstacle, the business owners has used external resources as a major solution for their high-technology/renewable energy and manufacturing industries. C. Valrie Grant & Patricia-Kaye Aarons: Case Studies – The Human and Social Capital as Differentiators of Success for the Black Owners in the Formal Sector Even though race and class play a critical role in the business operations of Black female entrepreneurs from the informal and formal arena, their experiences differ. The experiential 63 (Belcourt, Burkett, & Lee-Gosselin, 1991; Collerette & Aubry, 1990 as cited in Pounder, 10-11). 64 Athaliah Reynolds, “Higglers' paradise, Jamaican ICIs take advantage of low prices in China,” The Jamaica Gleaner, December 13, 2009, http://mobile.jamaica-gleaner.com/20091213/lead/lead7.php. 42 differences are based on educational level, industry specific training and expertise – human capital. Unlike the women from the informal industry, the women from the formal sector possess advanced education, industry training and knowledge. These factors give them greater access to the business world despite their race. It should be noted, however, that although their middle class status provides them with advantages in the business community over their informal counterpart, it does not exempt them from discrimination and inequity. Brown-Claude (2011) documents that while social inequities were acknowledged by the informal importers, colour (race) and gender was overlooked (131). There is an unspoken acknowledgement of the disparity of race and class among the Black, “Brown,” Biracial and White middle and upper class Jamaicans. Yet the topic is openly discussed among Afro-Jamaicans of lower social standing because it is key in shaping their lives in unfavourable ways, particularly the women’s. While education, industry specific training and experience are markers of differences between both groups of female entrepreneurs, alliances and networks – social capital – are frameworks of similarities. Mentorship is employed by the women from the formal sector and therefore is also a differing aspect between the two categories of owners. All the elements produce varying degrees of influence and economic outcomes. Access to capital is a prime example. This is illustrated by the fact that the female owners from the formal industries have an easier admittance to local lending institutions. Furthermore, they have connections to international lending agencies, unlike the importers. Additionally, there is evidence to suggest that mentorship is an additional source from which the women can access funds to start or expand their companies.65 Scholarly research confirms that as a form of informational support, mentorship it is an essential tool for 65 Keysha Pierre, “Meet the Beautiful Women Entrepreneurs leading FundRiseHER,” MyCaribbeanSchoop, (2016), https://mycaribbeanscoop.com/jamaica/meet-beautiful-women-entrepreneurs-leading-fundriseher. 43 female entrepreneurs when commencing or growing their organizations (Cody 2017, 162). While other entrepreneurs use it as an instrument to hone their businesses skills or as a means of giving back to other women in the business community.66 According to human and social theorists, education, training and expertise and relationships and networks are factors that affect the outcome of a business. Human and social theorists are specialists who deal with human and social traits and how the traits affects an organization. The theorists further explain that education has a direct impact on training and experience, which impacts the outcome of businesses. Also, companies are expanded through social capital (Honig 1998, 374-376). Black business women in Jamaica have affirmed the work of human and social theorists by expressing that their advanced education and industry training and expertise have contributed to the success of their companies. They have also confirmed that their relationships and alliances from their respective industries have furthered the growth of their organizations. Although Honig has not included mentorship among the social capitals, I would argue that it should be added. There is already ample practical and theoretical evidence67 that it enhances opportunities and extends the businesses longevity. The Black Jamaican female entrepreneurs substantiates Honig’s analysis of the benefits of an education as a human capital by commenting that their masters’ degrees enabled them to be employed by large and reputable corporations. Within their respective industries, they occupied senior and specialised positions such as senior managers and consultants. As a result, they acquired training and expertise from their industry-specific employers, which extended to the industries’ professional bodies. This, in turn, gave them the confidence as well as invaluable knowledge for 66 Pierre, “Meet the Beautiful Women.” 67 Pierre, “Meet the Beautiful Women.”; Cody 2017. 44 the establishment, operation and advancement of their companies. For example, Valrie Grant, founder and Managing Director of GeoTechVision, from the high-technology/renewable energy field, possesses a Master of Science in Geographic Information Systems (GIS). The advanced degree equipped the business owner to be employed as a GIS professional with the government and Spatial Technologies. Grant’s employment with the entities connected her to industry training and expertise and also the industry’s professional associations.68 The work experience along with industry prowess have facilitated Grant’s membership to the United Nations Global Geospatial Information Management (UN-GGIM) Americas Caribbean Project Board.69 The enterprising owner pointed out that while working and immersed in industry specific expertise and professional agencies, she realised an unfilled need. The unfulfilled need entailed solving some of the Caribbean’s most enduring problem in areas such as Economic Development, Environment and Resource Management and the issue of Climate Change and Disaster Management. The gap led to the former consultant’s establishment of GeoTechVision.70 Grant’s response to start a business in order to solve the economic and environmental predicaments of Jamaica and the Caribbean attests to the concept that Black female business owners form their companies’ base on the notion of motherhood.71 Motherhood, in this case, is not community mothering but rather mothering from a national and regional perspective. Perhaps this sense of mothering through the idea of giving back is what has caused Grant and her colleague Cecile Watson to mentor other Black female entrepreneurs in Jamaica and across 68 Valrie Grant: GeoTechVision Enterprises Ltd — From Illness to Recovery to Booming Business, The Story Exchange, October 16, 2013, https://thestoryexchange.org/valrie-grant-geotechvision-enterprises-ltd/. 69 “Valrie Grant,” Development Bank Of Jamaica, Venture Capital, 2019, https://www.venturecapitaljamaica.com/conference-2016/valrie-grant. 70 “Valrie Grant: GeoTechVision Enterprises Ltd.” 71 Nakeisha M. Cody, “Transforming Inequality Into Opportunity: Race, Gender and the Making of Women Entrepreneurs” (PhD diss., Northeastern University, 2017), 115-116. 45 the Caribbean. Their mentorship program, FundRiseHER, is in the form of a crowdfunded grant and focuses on the provision of funds for women who are seeking to initiate their businesses. Given the difficulties that women experience in accessing start-up capital, this is a good solution.72 Jamaican Black female entrepreneurs’ point of views confirm Pierre’s article since they declared that they have experienced obstacles in acquiring the initial capital for their businesses. Additionally, the business owners expressed that they have also encountered hurdles in obtaining funds from financial institutions for their expansions. Never-the-less, Patricia-Kaye Aarons, CEO of Sweetie Confectionery has demonstrated that relationships and networks can be used as tools of redress for the financial challenges. The owner voiced that the capital infusions for Sweetie Confectionery’s advancement was generated as a result of the sale of products to former working business partners such as Western Union International and the Ministry of Tourism. The business owner pointed out that she gained these social capitals while being employed in the corporate world of Digicel and Grace Kennedy as Sponsorship and Communications Manager.73 Social capitalist theorists certify Aarons’s case by purporting that networks are advantageous in opening opportunities for the admittance to capital (Honig 1998, 376). In sum, Black female entrepreneurs from the informal and formal sector are affected by race and class. However, a middle class social standing which provides opportunities for advanced education, expertise and training, along with relationships, networks and overseas partnerships, are the factors that differentiate the success of business owners of the informal and formal sectors. In addition, the research highlights the misconceptions of gender variations of 72 Keysha Pierre, “Meet the Beautiful Women Entrepreneurs leading FundRiseHER,” MyCaribbeanSchoop, (2016), https://mycaribbeanscoop.com/jamaica/meet-beautiful-women-entrepreneurs-leading-fundriseher. 73 First AngelsJa Successes | Patria-Kaye's journey up to Sweetie highway,” The Jamaica Gleaner, January 18, 2018, http://jamaica-gleaner.com/article/news/20180118/first-angelsja-successes-patria-kayes-journey-sweetie-highway. 46 business women and men in the Caribbean and uncovered that women have less access to capital than men and the women, like Jamaicans do not settle but venture into risky businesses with growth potential. In this main section – The Global Context: IMF – The Effects of Neoliberalism And The Success Of The Jamaican Economy and the Business Women, which comprises of two sub-sections, I scruitinise the long standing association between Jamaica and the IMF and how the connection results in detrimental consequences on the country’s economy. This includes the investigation of how the structural adjustment policies enforced the liberalisation of the nation’s interest and exchange rate, which in turn, increased its inflation rate. In addition, I examine the correlation between the IMF’s negative impact on the economy and its effects on the growth and expansion of Black female entrepreneurship. I illustrate that the major effect of the IMF regarding the business owners from the informal sector is the cut to government spending. This translates to the loss of jobs and the creation of need-based entrepreneurs as a survival strategy and that the long-term success of these owners is training and education. In contrast, the acquisition of capital is a severe problem for the business women from the formal arena. This is as a result of the high interest rates caused by the IMF’s liberalisation of the country’s interest and exchange rates. As a countermeasure the business women have used external funding sources. The research will show that the entrepreneurs are succeeding because the government is using monetary policies that benefit the country instead of the IMF. 47 4. The Global Context: IMF – The Effects of Neoliberalism & The Success of the Jamaican Economy & The Business Women Despite the various solutions deployed by the Black female entrepreneurs as remedies for the financial hurdles that they encounter, there is no denying that the obstacles have been partly, dare I say primarily, due to the neoliberal predacious policies of the International Monetary Fund. It should be noted that the consequences of the lending agency’s policies on the Jamaican economy correlate to the creation of needs-based female owned businesses. Its impact on the opportunity-based entrepreneurs is detrimental with regards to the acquisition of business loans. In spite of the organization’s long-standing negative effects on the economy, the nation’s economic growth and development is currently on an upward trend.74 The Black business women are among the contributors to the success. The women owners are a part of the micro, small and medium-size businesses that accounts for 35 per cent of the jobs in the country.75 The long-standing association between the country and the IMF is a representation of the destructive outcome of global capitalization on the debt-strapped “Other” for the profit of industrialised countries through international lending bodies. In “Debt, Power and Crisis: Social Stratification and the Inequitable Governance of Financial Markets,”76 the writers outline how the process occurs. The authors show how power in credit markets refer to a “relationship”, links the present to the past: the creditor gives funds now expecting access to revenue later. This expectation exists because inequity is presupposed in the relationship (373). This imbalance has created debt-ridden countries in the Global South and continues to perpetuate the cycle of 74 “IMF Review”, 2019; “Economic Growth Projected”, 2019. 75“Shaw Says MSMEs Indispensable,” The Jamaica Gleaner, April 21, 2019, http://jamaica-gleaner.com/article/news/20190421/shaw-says-msmes-indispensable-achieving-growth. 76 As cited in Chakravartty and Ferreira da Silva 2012. 48 indebtedness for these countries such as Jamaica. This is the characterisation of an unpayable debt and is referred to as an assassination of a country (371). It has been presumed that the debtors of the South are racialized and are of low socio-economic standing. Black Jamaican female entrepreneurs are encapsulated in these categories. Therefore, the business women are considered by creditors such as the IMF as an unpayable debt while benefitting indirectly from the women through the mode of accumulation by dispossession. The IMF attempted to deflect its detrimental role in Jamaica’s case by announcing that the nation’s public debt is projected to fall below 100 percent of Gross Domestic Product (GDP), the first in 18 years. In other words, the GDP is projected to fall to 98.7 percent in the financial year 2018-2019. The institution reported that the last time this occurred was in the 2000-2001 financial year.77 The Caribbean Development Bank (CDB) added to the agency’s positive review when it documented in The Jamaica Gleaner that the country has had a 1.7 per cent growth projected for the financial year 2018-2019. In its “Country Economic Review of Jamaica”, the CDB also announced that tourism, manufacturing, agriculture, and construction are the sectors most likely to drive growth in the short term.78 The tourism and manufacturing sectors are the domain of the “brown” and white economic elites. Edwards (2019) wrote that between January 1 and March 8, 2019, one million tourists visited the country. This is a 15 per cent increase in tourism arrivals over the prior year’s. Additionally, the IMF announces in the nation’s largest newspaper that unemployment is near all-time lows and that business confidence is high.79 Given the overall 77 “IMF Review | Public debt to fall below 100% Of GDP first in 18 years,” The Jamaica Gleaner, April 23, 2019, http://jamaica-gleaner.com/article/news/20190423/imf-review-public-debt-fall-below-100-gdp-first-18-years. 78 “Economic growth projected at nearly 2% for Jamaica in 2018/19 fiscal year- CDB,” The Jamaica Gleaner, March 18, 2019, http://jamaica-gleaner.com/article/caribbean/20190318/economic-growth-projected-nearly-2-jamaica-201819-fiscal-year-cdb. 79 “IMF Review | Public debt to fall below 100% Of GDP first in 18 years.” 49 growth of the economy which is controlled by inflation, it is not surprising that the inflation rate is at a low of 3.4 per cent for the fiscal year ending March 2019.80 The Jamaica Observer further attested to the nation’s accomplishments by outlining that as of December 2018, Jamaica has met all targets under the International Monetary Fund's Precautionary Stand-By Arrangement (PSBA)81 for the period ending December 2018.82 As a result, according to Jackson (2019) the Minister of Finance, Nigel Clarke, and the Prime Minister, Andrew Holness, declared that the country will be leaving the IMF and its final review will be the June quarter of 2019.83 In this sub-section, I discuss the long-standing association that Jamaica has had with the IMF which has crippled the country’s economy for almost 50 years. I investigate the negative effects of the lending agency’s predatory neoliberal policies through its various structural adjustment programs. These programs imposed draconian measures which required the liberalisation of the nation’s interest and exchange rates, which resulted in high inflation rates. The outcome being the reduction in the economy’s productivity because of the shift away from its productive sectors towards service industries. Additionally, the intentional loosening of the controls on investment which opened the country as a market for the Global North. A. An Unpayable Debt On the Part of the IMF & Its Consequences on Jamaica The impressive announcements made by the IMF if left unexamined obscure the fact that the international lending institution’s austerity measures continue to have adverse effects on 80 Avia Collinder, “Inflation Optimism - March Data offers Hope for BOJ target,” The Jamaica Gleaner, April 17, 2019, http://jamaica-gleaner.com/article/business/20190417/inflation-optimism-march-data-offers-hope-boj-target. 81 An arrangement between the IMF and a member country (Jamaica) under which the member state is entitled to borrow up to an agreed amount of foreign currency from the Fund to cover a possible deficit on its balance of payment. This is usually over twelve to eighteen months (short-term). 82 “Jamaica Meets all Targets under 5th IMF PSBA Review,” (2019, March 9). The Jamaica Observer, March 9, 2019, http://www.jamaicaobserver.com/latestnews/Jamaica_meets_all_targets_under_5th_IMF_PSBA_review. 83 Steven Jackson, “Duncan: Jamaica Poised To Grow Even After IMF Exits,” The Jamaica Gleaner, February 26, 2019, http://jamaica-gleaner.com/article/business/20190226/duncan-jamaica-poised-grow-even-after-imf-exits. 50 Jamaica’s economy through its structural adjustment programs like the Precautionary Stand-By Arrangement. The country’s economic challenges started in the 1970s, and it was due to the increase in its trade imbalance (Weis 2005, 118; Bolles 1991, 23). The trade deficit was exacerbated by the Organisation of Petroleum Exporting Countries’ (OPEC) multiple increases in its oil prices and the onset of global recession (Weis 2005, 118; Peet 2003, 82). The country’s crisis was heightened by the reaction of Jamaica’s propertied elites and professionals of white and brown citizens who feared the government’s economic policies. As a result, they either migrated or sent their capital overseas which further depressed production and investment and increased the need for borrowing. The plight was intensified when some of the business owners sabotaged the government’s reforms by withholding vital products from the consumers. Food items were among the essentials. This led to scarcity amidst rising expectations that the economic conditions could worsen.84 The devastating conditions forced the Jamaican government, like other non-industrialised countries, to commence borrowing from the IMF. Peet (2003) asserted that from that time onwards the lending agency’s clientele switched from industrialised to non-industrialised countries. Furthermore, the period of the late 1970s ushered in the transition from the “gentlemen’s” agreement (low conditionalities)85 to conditionalities being the central feature for borrowing (77 & 84-85). The changeover was prejudicial for non-industrialised countries because the regulations became draconian and predatory. Weis (2005) underscored the exploitative nature of the structural adjustment programs by commenting that the organization set “unrealistic conditionality target” 84 Tony Weis, “A Precarious Balance: Neoliberalism, Crisis Management and the Social Implosion in Jamaica,” Capital and Class, 85, (2005): 119, https://journals-sagepub- com.ezproxy.library.ubc.ca/doi/pdf/10.1177/030981680508500116. 85 Conditionalities are conditions attached to the provision of loans, debt relief or foreign aid by the provider (IMF) to the receipt, which is usually a sovereign government. 51 to encourage the Jamaican government’s non-compliance. When the targets were not met in 1978 the institution implemented a predacious adjustment program (Bartilow 1997: 21; Weis, 119 – 120) with the intent of providing new markets for the global North. For instance, the Extended Fund Facility86 of 1978 brought demands for price liberation, interest rate adjustments, currency devaluation and cuts to social spending (120). Also, between 1982 and 1984 the government borrowed stabilisation loans and three World Bank Structural Adjustment Loans. The conditionality entailed the loosening of the controls on investment and liberalised interest and exchange rates and currency devaluation. In addition, the policy required reduced real wage levels, dismantled state services and subsidies and the selective cut on tariffs and non-tariff barriers (121). Although by 1984, there was economic growth, it was temporary and was followed by a rise in unemployment, a stall in the economy’s growth and an increase in the trade deficit (121-122). The economic decline was influenced by the structural adjustment programs’ policies which shifted the country’s economy away from its productive sectors such as agriculture, and towards service industries like tourism. The resulting low productivity increased Jamaica’s inability to service its international debt. The ratio of debt service-to-export87 rose from 17 to 50 per cent during the period 1979-1989. This severely constrained economic planning (124). The economic damages that the international body’s regulations inflicted on the country was as disastrous as its consequences on the nation’s class and social sphere. Weis emphasised that in the 1980s the economic crisis led to the widening of the historic class inequalities. Consequently, the wealth in 86 A structural adjustment program established by the IMF to provide loan assistance to countries experiencing payment imbalance because of structural impediments. This is usually over three to four years (medium-term). 87 The debt service ratio is the ratio of debt service payments made by or due from a country to that country's export earnings. A country's international finances are healthier when this ratio is low. For most countries the ratio is between 0 and 20%. 52 the upper echelon increased in the formal sectors, which included the financial and mercantile industries (122). In spite of the numerous setbacks, one of the crowning achievements of the government in the mid-1990s was the reduction of the inflation rate to the single digit (126). However, it did not have a positive impact on the unemployment rate, which was persistently high at about 15 to 16 per cent (130). In the final sub-section, I investigate the correlation between the detrimental consequences of the IMF’s predacious policies on the economy and its impact on the growth and expansion of Black female entrepreneurship. I probe the possibility of the use of education and training as a strategy for the hurdles that the business women encounter from the informal arena. In addition, I uncover that the owners from the formal sector uses external funding as a countermeasure for their financial challenges. B. Black Female Entrepreneurs & Jamaica Succeeding Despite the Obstacles of IMF Currently, Jamaica is in the process of ending its association with the IMF. In the meantime, the Minister of Finance, Nigel Clarke, continues to be prudent and vigilant about advancing the country’s current upward economic progression. This includes being circumspect about the effects of the lending agency’s neoliberal policies on the economy which in turn impacts Black female entrepreneurs. Scrutinising the rate at which necessity-based enterprising women enter the informal sector, as well as the repercussions on opportunity-based business owners in the formal arena is considered a vital part of the equation. One of the solutions that the government (Ministry of Finance) employed to ensure the continued upward trajectory of the 53 economy and the growth of female entrepreneurial activities is to switch to the market determined exchange rate policy. But factors such as the reduced real wage levels and the dismantling of state services and subsidies, and also the liberalisation of interest and exchange rates, still need to be taken into account. This is irrespective of whether the women are from the informal and formal sector. Even though these issues consistently and continuously adversely affect the women in varying degrees they continue to thrive locally and internationally by negotiating the marketplace and financial challenges in various ways. The International Monetary Fund’s structural adjustment program between 1982 and 1984 dictated that the Jamaican government reduced real wage levels and dismantled state services and subsidies. The outcome for the working class, particularly the women, was low incomes and job insecurities. The diminished incomes, along with job uncertainties, determined the rates at which the working class women of African descent turned to entrepreneurship as a survival tactic. This resulted in the growth of the informal sector and the government’s creation of the informal commercial importers (ICIs). The importers deal with the distribution of a range of imported goods and small-scale manufactured products (Weis 2005, 122-123; Brown-Glaude 2011, 120). Although the government recognised their status as legitimate entrepreneurs since the 1980s based on their contribution to the country’s economy, the business community which comprise of governmental agencies do not. Unfortunately, the “shadow of illegitimacy” continues to plague them. The women have commented that in addition to the “shadow of illegitimacy”, the sluggish market has been another major hindrance for new importers to consider when entering the business sector (Brown-Claude 2011, 137). The women have 54 identified that one of the reasons for the slow growth, which I have also observed is the oversaturation of the market (137). According to human theorists, education and training are potential remedies for the oversaturation of the marketplace. Based on my business educational background and work experience in the business field, I would recommend adding mentorship to the equation. Therefore, the education and training of the business women in the areas of strategies for business growth, customised training and business monitoring and mentoring are essential. And also, knowledge and instruction in the areas of financial assessments and marketing consultation and training are critical. The Jamaica Business Development Corporation (JBDC) an agency of the Ministry of Industry, Investment and Commerce provides these services and as a result, can assist the women. For the female importers who are entering the field and existing importers, both seeking to use the services of the Jamaica Business Development Corporation, would obtain the tools that are needed to counter the problem of an oversaturated market. Also, their certification with the agency should aid with their negotiations with the commercial banks since this might be one of the recommended business tactics by JBDC. Scotiabank Jamaica has set up a $3 billion fund for small businesses at a special rate of 9.99 per cent.88 The commercial bank’s reactionary measure, while motivated by long-term profit, is triggered by high business confidence in the economy. This scenario is an example of how institutional factors such as the policies of commercial banks, as well as macro legislations and environments like government regulations and economic development, affect women’s entrepreneurial activities.89 88 Steven Jackson, “Scotia Sets up $3b Loan Fund, Cuts Rates to Drive Business,” The Jamaica Gleaner, March 20, 2019, http://jamaica-gleaner.com/article/business/20190320/scotia-sets-3b-loan-fund-cuts-rates-drive-business. 89 Brush et al., 2009 as cited in Giménez et al. 2017, 45. 55 Jackson’s newspaper report is a reminder that Scotiabank Jamaica’s current low interest rate of 9.99 per cent was not always the norm. This is due to the fact that since the late 1970s one of the IMF’s loan requirements was the liberalisation of the rates, which led to an increase in interest rates. The hike in the interest rates negatively influenced the financial institutions’ lending regulations and thought processes of the directors and management team. The Jamaica Gleaner documented that until recently, it was difficult for new and young entrepreneurs to access loans from lending organisations90. One of the reasons for the obstacle was the lending agencies’ speculation that the higher the interest rates, the greater the loss of returns on risky investments. Valrie Grant of GeoTechVision and Patricia-Kaye Aarons of Sweetie Confectionery expressed that as a result of the barriers they encountered from commercial banks while seeking loans to start their companies, they had to resort to their personal finances. Aarons added that she also utilised her pension to initiate Sweetie Confectionery.91 Additionally, the owners stated that they used external means to fund the advancement of their businesses. As such, there is the possibility that Grant sourced capital for the expansion of GeoTechVision from the World Bank/Infodev Women Innovators Network in the Caribbean (WINC) Accelerator Program. The business owner is an accredited facilitator of the program.92 While Aarons was willing to use the commercial banks for the extension of Sweetie Confectionery to the US Virgin Islands, the UK and the US, the entrepreneur voiced that the borrowing rates were too high. Therefore a foreign 90 First AngelsJa Successes | Patria-Kaye's journey up to Sweetie highway,” The Jamaica Gleaner, January 18, 2018, http://jamaica-gleaner.com/article/news/20180118/first-angelsja-successes-patria-kayes-journey-sweetie-highway. 91 “First AngelsJA Successes”, 2018; Valrie Grant: GeoTechVision Enterprises Ltd”, 2013. 92 “Valrie Grant”, Development Bank Of Jamaica, Venture Capital, 2019, https://www.venturecapitaljamaica.com/conference-2016/valrie-grant. 56 investor – Branson Centre of Entrepreneurship (Caribbean) – became the owner’s lending solution.93 Aaron’s acknowledgement of the commercial banks’ high interest rates is a reminder of the detrimental effects of the IMF’s prerequisite of liberalising a country’s exchange rate. The liberalisation of the exchange rate causes a devaluation of the country’s currency and increases its inflation rate. Even from a novice’s perspective, the solution is ill-advised. As a result, countries like Jamaica have switched from the lending institution’s managed float exchange rate to a market determined exchange rate: the inflation rate being the monetary anchor.94 Peet’s (2003) research attempts to explain the relevance of the international lending agency’s plan by reporting that the purpose of devaluing a nation’s currency is to aid with the correction of the economy’s balance of payment. To achieve this feat the country must have the foreign exchange from exports, especially hard currency, to pay for its imports (71). Therefore by underrating the nation-state’s currency its exports should be cheaper and more competitive internationally. Yet more often than not the imposed redress makes imports more expensive and raises the country’s inflation rate (75). Roberts (2012) has observed that a nation forced to implement the international institution’s exchange rate target as a foundational monetary policy has been inappropriate for the country’s economy (104). The outcome is that it increases the nation’s inflation rate, which in turn affects other areas of the economy, including the business sector. Based on my experience of living in Jamaica, I can confirm that the IMF’s imposition of the liberalisation of the country’s exchange rate has undervalued the country’s currency since the 93 “First AngelsJa Successes | Patria-Kaye's journey up Sweetie highway (Part 2),” The Jamaica Gleaner, January 20, 2018, http://jamaica-gleaner.com/article/news/20180120/first-angelsja-successes-patria-kayes-journey-sweetie-highway-part-2. 94 Bloomberg Markets: The Close, “How Jamaica Is Using Reggae To Communicate Monetary Policy,” April 15, 2019, https://www.bloomberg.com/news/videos/2019-04-15/how-jamaica-is-using-reggae-to-communicate-monetary-policy-video. 57 1980s. Consequently, Jamaica has continuously experienced high inflation rates until recently. In 2010, the inflation rate of Jamaica was 15 per cent in comparison to Guyana’s 6.5 per cent.95 However, in 2019 Jamaica’s inflation rate for the fiscal year ending March is 3.4 per cent.96 The Minister of Finance, Nigel Clarke, states that the switch to the market determined exchange rate has had a positive effect on the inflation rate. The changeover has been beneficial for economic growth, which includes the businesses arena.97 Conversely, there are devastating consequences on the economy and business owners when the inflation rate is high. The impact is manifested in the forms of higher costs of doing business, increases in distortionary financial taxes and decreases in economic activities. These elements play a critical role in the decision making process of Black female entrepreneurs. For instance, where they register their companies. Due to the negative effects on businesses because of Jamaica’s 15 per cent inflation rate in comparison to Guyana’s 6.5 per cent in 2010, Jamaica was regarded as an unprofitable investment for entrepreneurs. Consequently, this may have been the reason why Grant established GeoTechVision Guyana Inc as an external company. The company was registered in Guyana instead of Jamaica.98 In sum, the Black female entrepreneurs and the nation-state’s economy has been negatively impacted by the various austerity measures of the IMF since the 1970s. Yet, both the business owners and the country is succeeding. The business importers’ redress for their sluggish businesses is education and training while the formal business owners’ countermeasure for their 95 The Bank of Jamaica’s website; The Bank of Guyana’s website as cited in Roberts, Chart 2, 104-105. 96 Avia Collinder, “Inflation Optimism - March Data offers Hope for BOJ target,” The Jamaica Gleaner, April 17, 2019, http://jamaica-gleaner.com/article/business/20190417/inflation-optimism-march-data-offers-hope-boj-target. 97 Bloomberg Markets: The Close. 98 Valrie Grant: GeoTechVision Enterprises Ltd — From Illness to Recovery to Booming Business, The Story Exchange, October 16, 2013, https://thestoryexchange.org/valrie-grant-geotechvision-enterprises-ltd/. 58 difficulties in accessing capital is the utilization of external funding. The entrepreneurs’ success is a reflection on the government’s economic achievement because it has finally chosen the market determined exchange rate which is beneficial to country and not the IMF. CONCLUSION Black Jamaican female entrepreneurs have proven that despite the obstacles they have encountered, they have found ways to counter the challenges and continue to succeed. Their success includes the expansion of their businesses regionally and internationally. This is in spite of the hostile economic environment that the IMF’s predatory neo-liberal policies created since the 1970s. The formal business owners responded to the lending institution’s adverse effects of high interest rates, which caused difficulties in the acquisition of capital, by uilising networks and relationships and external sources. In addition, they entered an unchartered field of business that was grounded in gender disparity yet used international partnerships and markets to thrive. The informal commercial importers replied to the organization’s regulations that caused low incomes and job insecurities due to reduced real wage levels and dismantled state services and subsidies by becoming needs-based entrepreneurs in the informal sector. Additionally, the importers have defied the odds of not possessing an advanced education and corporate expertise and industry training yet are successful contributors of the economy. Even while reinforcing their status as legitimate business owners which is underpinned by the factors of race and class. While I have mentioned to some degree the impact of institutional factors on the entrepreneurs such as the policies of the government and lending institutions, this area needs in-depth research. 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Gender, Race, Class, Sexuality, Socio-economics, Social Justice, Globalization, Capitalism, IMF
Gender
Race
Class
Sexuality
Socio-economics
Social Justice
Globalization
Capitalism
IMF
Black Female Entrepreneurs in Jamaica : Defying the (In)visible Barriers and Succeeding
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