TODAY   |  November 24, 2012

Bloomberg celebrates Small Business Saturday with announcement

“They really are the job creators for New York City,” Mayor Michael Bloomberg said of small businesses, which employ half of all New Yorkers. Bloomberg announced that over $40 million has been raised to match government loans for small businesses, and that the grants will assist businesses that need help to get going again after Sandy.

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>> a lot of warmth, though, from this crowd.

>> a lot of warm smiles. people with strange mustaches. i'm carl quintanilla here with erica hill . lester has the morning off. coming up in this half-hour, have you ever gone to the mall planning to spend a certain amount of money and you walk out spending twice as much?

>> yeah, i do that at target a lot.

>> target, anywhere. coming up, we'll reveal what some of your favorite retailers are actually doing to get you to spend more of your crash. some interesting mind games going on.

>> obviously, that's their goal. ours is to save some. happy to have those hints coming up. also, we'll switch gears a little bit this morning when we introduce you to a young woman who has really become an inspiration for so many. she's battling cancer, diagnosed at just 22 years old when she was living what she thought was the perfect life . she turned the situation around and she's helping others.

>>> a bit later this morning, a legal uproar over a sentencing handed down by a judge in oklahoma who ordered a teenager convicted of causing a deadly car crash not to ten years of prison, but to a decade of church instead.

>> interesting legal bats on that front, too.

>>> meantime, today, as you know, small business saturday. a chance to give your favorite mom and pop store a boost of business. here in this area, badly needed in the wake of hurricane sandy. joining us more to talk more about that is new york city mayor michael bloomberg . welcome.

>> thank you. welcome to small business saturday.

>> good to be here. we all know what the city has been through over the past few weeks. you have an announcement regarding some of those businesses that even still can't open.

>> number one, small business saturday is the creation of american express . they've done a wonderful thing helping small businesses grow in this city. small businesses account for 98% of all businesses. they employ 50% of the people in this city. 2/3 of them have five employees or less. they really are the job creators for new york city . new york city has gotten back 200% of the jobs lost during the recession. the country has only gotten back 40% and it's really all been in small businesses . small businesses are the ones in your neighborhood that let you really find good values, get somebody that knows what you need , understands your culture, and it's very important, a lot of them, however, got very badly hurt from hurricane sandy.

>> this is something i know you helped spearhead in new york city , to help a lot of these with .

>> we've raised $40 million privately to match loans. our small business services can provide you with ways to get around the paper work. we have an exemption of sales tax. you have to buy things to get your business back going again. those kinds of things.

>> where are you shopping on small business saturday?

>> well, i've got a small business in my neighborhood. i eat in small restaurants. i'm going to get gifts for my daughters.

>> you run a small business . or at least it used to be small.

>> it started small anyway. thank goodness it's not anymore. that's how we pay the bills.