Clubs in the country, especially in lower divisions, are struggling after the COVID-19 shutdown and the lack of supporters at games.
Bruce believes it is the duty of wealthier Premier League clubs to help the teams lower down the pyramid.
He, who began his playing career in the lower leagues with Gillingham, told Sky Sports: "A million or two million quid in the Premier League these days seems to be nothing. In the lower leagues, that would probably keep them all going for a season.
"I remember having a conversation with the chairman of Gillingham about how hard it is now with no income, no revenue from the stadium and no supporters.
"They're finding it very, very difficult and I believe if we are not careful, we could see the collapse of lots and lots of teams, which for me will be sad.
"I learned my trade in the lower divisions - I was at Gillingham a long, long time and I will be forever thankful that a small club gave me the chance.
"Can we find a couple of million quid and put it to the football clubs who badly need it? Because if we are not careful, we are not going to have a structure like we had.
"It's on the verge of, probably, collapse from what I am hearing from different managers and different chairman. It's been very difficult, especially for those lower league ones."