Williams also has business interests beyond Formula One. Along with Ferrari, McLaren, Benetton and Renault, Williams is one of a group of five teams that won every Constructors' Championship between 19 and every Drivers' Championship from 1984 to 2008. Williams have worked with many engine manufacturers, most successfully with Renault, winning five of their nine Constructors' titles with the company. None of Williams' Drivers' Champions went on to win a championship with another team. Of those who have won the championship with Williams, only Jones, Rosberg and Villeneuve defended their title while still with the team as Piquet moved to Lotus after winning the 1987 championship Mansell left F1 to compete in the CART series after winning the 1992 championship, Prost retired after winning the 1993 championship, and Hill moved to Arrows after winning the 1996 championship. Of these drivers, Jones, Rosberg, Mansell, Hill, Piquet, Prost, and Villeneuve won the Drivers' title with the team. Notable drivers for Williams include: Alan Jones, Keke Rosberg, Nigel Mansell, Damon Hill, David Coulthard, Jenson Button, Juan Pablo Montoya, Alain Prost, Nelson Piquet, Ayrton Senna, Riccardo Patrese and Jacques Villeneuve.

This was a record until Ferrari won its tenth championship in 2000. Williams won nine Constructors' Championships between 19. At the 1997 British Grand Prix, Jacques Villeneuve scored the team's 100th race victory, making Williams one of only four teams in Formula One, alongside Ferrari, McLaren, and Mercedes to win 100 races. Williams started manufacturing its own cars the following year, and Clay Regazzoni won Williams' first race at the 1979 British Grand Prix.

The team's first race was the 1977 Spanish Grand Prix, where the new team ran a March chassis for Patrick Nève. The team was formed in 1977 after Frank Williams' earlier unsuccessful F1 operation: Frank Williams Racing Cars (which later became Wolf–Williams Racing in 1976). It was founded by Frank Williams and Patrick Head. Williams Grand Prix Engineering Limited, currently racing in Formula One as Williams Racing, is a British Formula One team and constructor.

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