The history of MSME and that of Assumption University are rather interrelated. In 1969, Assumption School of Business (ASB) was established as an autonomous institution of higher education institution. It was the first institution in Thailand to offer higher business education in English. As the institution grew larger and gained reputation, it was officially established as Assumption Business Administration College (ABAC) with the approval of the Ministry of Education in 1972. The Ministry of Education later accredited the institution in 1975. The institution was granted a new status in 1990 as Assumption University (AU) by the Ministry of University Affairs.