Is the undergrad business program at W&L direct admit or does it require application as an upperclassman?
I’m fairly certain it is direct admit. The link below describes the academic advice for freshman through senior year. Perhaps it will help your research. 
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You don’t apply to the business major. You declare the major Winter term of your sophomore year, though students would be working on pre-reqs for class (accounting, Econ, stats).
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Son there now. Getting into business classes is hard at W&L. School is short staffed in spots. Been frustrating especially given the cost to attend.
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A student who is interested in the William s School should seek out a professor wiling to take them on as an advisee. This should not be difficult if a student is doing well in freshman level classes as professors at W&L are generally very approachable and open to taking on advisees. Spring term freshman year or early fall term sophomore year are the perfect times to approach them.