Globalization has transformed English from a foreign language into a lingua franca. The pragmatic paradigm and pragmatic features of English as a lingua franca (ELF), are different from those of native English, especially in the business context, defined as English as a business lingua franca (BELF), which has contributed to a series of studies on pragmatic competence, pragmatic strategies and pragmatic awareness in the (B)ELF context. Relevant studies offer insights into the pragmatic competence of BELF users, which is crucial in the accomplishment of communicative goals in business settings. This paper first reviews relevant theoretical studies on (B)ELF and evaluates their characteristics from the perspective of pragmatics. Then, the focus is placed upon the diversified features of interpersonal pragmatic competence and intercultural pragmatic competence in the BELF context, revealing that the traditional paradigm of pragmatic competence based on native English does not apply to this diversified intercultural context. This paper argues for a re-conceptualization of pragmatic competence in the BELF context and a re-examination of the institutional features of BELF interactions and the dynamics of pragmatic competence, pragmatic strategies, and pragmatic awareness in this context.