A method and system is provided for managing business taxonomy. The system comprises an indexing engine for indexing content of source business oriented metadata. The indexing engine has a content scanner for reading the business oriented metadata, defining taxonomy of the business oriented metadata, and building a content index of the business oriented metadata including a subject index representing the taxonomy of the business oriented metadata. The system also comprises an index store for storing the content index of the business oriented metadata, and a taxonomy engine for providing taxonomy services to users using the content index.