Individual cases of business brokers can be traced in the U.S.A. as far back as in the 1920s. In the 1960s the presence of business brokers is manifest and ever since the sector shows significant growth and evolution, adapting to business trends (e.g. franchising) and labour market conditions (e.g. corporate downsizing).

The International Business Brokers Association was founded in 1983.

In Europe the first business brokers emerged in Scandinavia in the 1970s. At the beginning of the new millennium the first efforts for pan-European networks surfaced.

Initially, the sector was known as «The Business Opportunity Business» (as ads for the sale of businesses were – and still are – classified in the «Business Opportunities» section of newspapers), but later on the term «Business Brokerage» dominated. 

As the term «broker» is also used in the real estate market as well as in the securities market, many brokers prefer to use the terms «Business consultants» or «Business advisors» instead of the term «Business broker».