News by email Donate


Top Stories

Most Read

Popular Videos

Pope 1.JPG 1.JPG
Pope 1.JPG
UK News

Pope says to pray for small businesses as 16,000 go bust after taking out covid loan

by Alex Collett

Pope Francis is praying for small businesses so that "in the midst of economic and social crisis, they find ways to continue operating, and serving their communities."

The Pontiff said: "Without them, it would not have been possible to make it through the covid crisis, and they continue to be necessary now. 

"This is why it is important to pray for them."

The BBC has found that 16,000 businesses in the UK which took out a type of government-backed covid loan have gone bust without paying the money back.

Hundreds of directors, who got loans they were not entitled to, have also been disqualified.

For the taxpayer it could cost as much as £500m and it is likely to grow as more companies go under. 

Globally, according to statistics from the World Food Bank for 2021, one in four companies lost half of their volume of sales because of the covid-19 pandemic. 

The Leader goes onto explain that he recognises the "courage, effort and sacrifice" of small and medium sized entreprenuers.

He states: "Stores, workshops, cleaning businesses, transportation businesses, and so many others. 

"The ones that don’t appear on the world’s richest and most powerful lists, and despite the difficulties, they create jobs, fulfilling their social responsibility."

A Monthly Gift Of $11 Makes A World Of Difference

In a world of fake news there’s never been a greater need for quality Christian journalism. Premier’s mission is to provide the Church with the most up to date and relevant news, told from a Christian perspective. But we can’t do it without you.

Unlike many websites we haven't put up a paywall — we want to keep our journalism free at the point of need and as open as we can. Premier’s news output takes a lot of time, money and hard work to produce. No one in the USA is sharing news like we are across radio, magazines and online so please help us to continue that today.

For a monthly gift of $11 or more we’d also be able to send you a free copy of the brand new Premier Bible, a wonderful Anglicised version of the NLT packed with exclusive bonus content, reading plan and resources to help you get the most out of scripture.

Your monthly support will make a world of difference. Thank you.

Support Us
Continue the conversation on our Facebook page

Related Articles

Sign up to our newsletter to stay informed with news from a Christian perspective.

News by email