Spenborough Chamber of Trade and Kirklees Council have pledged to help find accommodation for traders whose shops were gutted by Friday's fire at Cleckheaton indoor market.
Chamber of Trade president Keith Joplin said traders would have a say in how a new market is developed.
"I hope that, like a Phoenix from the ashes, we will be able to get back to normal again and an even more improved indoor market can be established," he said.
The fire took hold inside the Market Arcade between Albion Street and Horncastle Street at about 4.15pm on Friday when the building was still open.
"We are thankful there were no casualties," said Mr Joplin. "The whole inside of the market has been destroyed which includes about a dozen separate businesses. Every trader in the market has been affected but luckily businesses on the outskirts of the building have not.
"The Council and Spenborough Chamber of Trade has pledged to help them get sorted out. There is a wing of the market which hasn't been as badly destroyed as the rest and there is the outdoor market as well. We will do all we can to offer support and help."
Mr Joplin said the mood on Friday was shock, which changed to sombre disbelief on Saturday. "But now it has changed to determination," he said. "We will get over this, we have got to look to the future with positivity."
Michael Asquith, 47, who ran four shops in the arcade, was looking for accommodation.
"Hopefully I have got a unit sorted out that I can rent," he said. "I want to get going again this week and I can't let the fire stop me. I am waiting for structural engineers to see if I can get inside the market because there are a few things I need."
His daughter Joanne, 22, said: "There has been mention of sending us to Heckmondwike or Batley markets, but our customer base is here.
Carol Gavaghan, who worked in Viv's Market Cafe for ten years, said: "I have no idea where we go from here. Nothing can be saved at all from inside. The cafe is gutted and everything inside is just mangled."
A Council spokesman said: "The building will remain out of use for the foreseeable future while all options are considered. The markets manager met the market traders on Saturday and options are being looked at to find temporary accommodation to get them back in business as soon as possible.
"There is a loyal customer base for the market and we want to find a way of getting the traders back in business so they can continue to serve the needs of local people. A further meeting will be held with them on Wednesday."
The market, built in the 1960s, housed businesses including fish, poulty, meat, fruit and vegetable stalls, pet foods, a cafe and fashion stalls.
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