The EBF has evolved from a fusion between the Economic Faculty Association (founded in 1948) and the Business Faculty Association (founded in 1979). Both associations officially merged on the 1st of August in 2007. The process of this fusion started when in 2005 the Faculty of Economics and Business announced the fusion. Their target groups became more and more a like as well as the target groups of the Faculty Associations. Many activities were organised together and the rest of the activities being organised had a 80% overlap, so a fusion was a logical step.
Six months after the founding of the EBF, on April the 1th, the Marketing Association RijksUniversiteit Groningen (MARUG) officialy became a Sub Association of the EBF.