On 22nd June, 1993 (Protocol No. 4) the Academic Council of the University of Ruse opened the "Business and Management" department, assigning it the training in the "Business and Management" specialty. Later, the department was the basis for distinguishing the Faculty of "Business and Management" as the main structural unit of the University of Ruse "Angel Kanchev" (Decision of the Academic Council of 18th January, 1994).

On 23rd February, 2010, the "Management and Business Development" department was established on the basis of the "Business and Management" and "Industrial Management" departments.

Heads of "Business and Management" and "Industrial Management" departments:

Prof.  Kolyo Ramchev, PhD - head of the "Business and Management" department in the period 1993-1997.

Prof. Krastyu Papazov, PhD - head of the "Business and Management" department in the period 1997-2004.

Prof. Nikola Kotsev, PhD - head of the "Business and Management" department in the period 2004-2009.

Prof. Diana Antonova, PhD - head of the "Business and Management" department in the period 2009-2010.

Prof.  Ivan Mitev, PhD - head of the "Industrial Management" department in the period 2000-2010.

Heads of the "Management and Business Development" department

Prof. Diana Antonova, PhD - Head of the "Management and Business Development" department in the period 2010-2012.

Assoc. Milena Kirova, PhD - head of the "Management and Business Development" department in the period 2012-2019.

Prof. Pavel Vitliemov, PhD - Head of the "Management and Business Development" department in the period 2020-2021.

The Department of "Management and Business Development" is restructured and begins the two new departments: "Business Development and Innovation" and "Management and Social Activities" with the decision of the Faculty Council of the Faculty of "Business and Management" dated 12nd February, 2021, approved by the Academic Council of the University  of Ruse "Angel Kanchev" on 06th February, 2021.