Caucasus School of Business (CSB) was established in 1998 with the help of funding from the government of the United States of America via the grant from Eurasia Foundation and US Information Agency (USIA). This grant which was given to Georgia State University (GSU), Atlanta, USA to establish business school in the former soviet republic of Georgia. The director for this project was the professor at J. Mack Robinson College of Business (GSU) Bijan Fazlollahi. At the first stage, CSB started functioning as an independent faculty (school) of the consortium of three Georgian Universities: Tbilisi State University (TSU), Georgian Technical University (GTU) and Tbilisi State University of Economic Relations.

In 2004 CSB became 100% private institution, and based on CSB, Caucasus University (CU) has been established, in which CSB became as one of the schools. After that other schools has been launched in CU: Caucasus School of Law (CSL), Caucasus School of Media (CSM), Caucasus School of Technology (CST), Caucasus School of Governance (CSG), Caucasus School of Humanities and Social Science (CSH), Caucasus Tourism School (CTS), Caucasus Medicine and Healthcare School (CMS), Caucasus School of Economics (CSE) and Caucasus School of New Cinema.

It should be noted that Caucasus Tourism School and Caucasus Healthcare School was grown out of the Caucasus School of Business. Initially there were programs in Tourism (undergraduate) and in Health Administration (graduate) in Caucasus School of Business. And later, because of the growing importance of this sectors and growth of these programs decision was made to establish separate schools which will run those programs.

Since 2004, CSB runs one of the offsite campuses of Grenoble Graduate School of Business, GEM (France) and offers its MBA program in Georgia.

CSB offers academic programs that are created according to international standards. The programs have been granted CEEMAN accreditation in 2005-2010 years.

A variety of undergraduate, graduate, doctoral and certificate programs are offered.

School programs, curriculum, syllabi and student's evaluation system are fully in accordance with requirements of the Georgian Ministry of Education and Science and with European Credit Transfer Standards (ECTS).