Shadow Secretary of State Vernon Coaker and Finance Minister Sammy Wilson addressed around 30 business people as the Northern Ireland Independent Retail Trade Association held a summit on Small Business Saturday and rates revaluation.
Small Business Saturday is a UK-wide project being coordinated by Shadow Secretary of State for Business Chuka Umunna.
Sammy Wilson said: "The Small Business Saturday proposal is innovative and I would like to voice my support."
Mr Coaker said: "It's great to have the support of the Executive and I look forward to working with them, councils and businesses over the next months."
Mr Wilson said the revaluation was important. "The business landscape is transforming and needs an Executive that reacts and responds to this rapidly changing world," he said.
"The 2015 Revaluation will be challenging due to difficult market conditions and in particular the turbulence in the rental market, but, I believe this exercise is about grasping the opportunity now to rebalance business rates ensuring that the burden is shared and distributed fairly."