The coronavirus pandemic forced the BHA to call a halt to racing until the end of April, citing the need to "protect essential emergency services and the health and welfare of staff working in the racing industry".
While those within racing have supported the decision on the whole, there are plenty who are fearing for their financial futures.
"We haven't got any definitive information at this stage, but the sport's leadership that helped come together to make the decision, which the BHA board consulted, will be coming together in the coming days to make the point clear (to Government) that as well as being a sport, we are an industry," Rust told Sky Sports Racing.
"The Government knows that, we have good support in Government, they have been across the decisions we have been making.
"When everything is going right, we employ 17,000 people in racing and another 50,000 or so whose income derives mainly from the sport."
In light of social distancing and the need for public services on racecourses, Rust felt there was no option but to suspend racing.
"We are taking the right action to keep people safe," he said.
"We will make the point to Government that many people rely on his industry for employment, it contributes, based on some surveys we've done, around £4 billion to the economy.
"It generates that in employment and economic income, so we need the Government to consider the scale of our industry and help support us through this period.
"There are Levy Board reserves that can be called upon, and other funding sources within the industry which we'll need to examine, which can provide back up so we can provide support where it is needed.
"We're doing everything we can and we'll provide as much information as we can, just bear with us. We've got senior people working on this and will get information out whenever we can.
"We took the decision for the right reasons, for the public services, but we are acutely aware of the situation within our industry."
Racing in Ireland, under a different jurisdiction, continues behind closed doors although Horse Racing Ireland will discuss the situation at a meeting on Wednesday.
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