Chicago Lawyer Interviews Michael Shaw About the Emergence of "New" Entrepreneurs
Michael B. Shaw, Principal in the Business & Finance group and head of the firm's Private Equity practice, was interviewed by Chicago Lawyer in August of 2011 about the emergence of "new" entrepreneurs.
Michael Shaw calls them "entrepreneurs by necessity"—a new breed of entrepreneurs created by the economic downturn who leave behind lost jobs, or jobs that offer less pay or security, to start their own business.
"All of these people who are in that position, who maybe are unemployed and have spent six to nine months looking for a job, they all say, 'I might as well start a business, because I'm sitting home all day not bringing in income,'" said Shaw, a corporate lawyer and a principal at Much Shelist.
He said these new entrepreneurs come from various backgrounds and are often unprepared for the business world, so they call on their attorneys for legal, business and even emotional support. He has worked with dozens of start-ups and most recently, helped open the first Leo's Coney Island of Chicago.