The origin of the Faculty of Business Administration and Management was the Business Accounting School in Lugo. This centre was created in 1945 under the patronage the Provincial Council of Lugo. Initially, Business accounting was taught there and there were four sites in which it was located: the old Casino of Lugo, calle Quiroga Ballesteros, Provincial Council of Lugo and calle Armando Durán. During the 1977-78 academic year, courses started for the Diploma in Business Sciences and the following 1978-79 academic year, the Business School of Lugo was finally integrated into Santiago de Compostela University, giving rise to the Business School of Lugo.
During the 1995-96 academic year , the University School of Business Studies was moved to calle Armando Durán, where the Faculty of Business Studies is now located, on avenida Alfonso X el Sabio, within the University Campus of Lugo. This building was initially shared by the University School of Business Studies and the Delegate Section of the Faculty of Economics and Business Studies in the Campus of Lugo. The Delegate Section was created in the same academic year with the main objective of teaching the second cycle studies of the Degree in Business Administration and Management.
Finally, and as a consequence of Decree 298/2001 of the 'Consellería de Educación y Ordenación Universitaria’ (Regional Ministry of University Education and Planning) on 15 November, the Faculty of Business Administration and Management was created by joining the University School of Business Studies and the Delegate Section of the Faculty of Economics and Business Studies in the Campus of Lugo.