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."