SMAART Company Expands into Latin America, Plans Aggressive Global Growth

SMAART Company, a Florida-based accounting and advisory services firm, has announced its expansion into Latin America with a new office in Bogota, Colombia, marking the beginning of an aggressive global growth strategy. The expansion comes amid strong financial performance, with the company reporting doubled year-over-year sales following successful integration of two acquired firms.

The move into Colombia, which includes hiring key professionals with CPA and MBA credentials, represents the first phase of a comprehensive international expansion plan. The company has outlined ambitious quarterly goals for 2024, including expansion into Western Europe, targeting U.S. expatriate services, and launching a franchise program for its core services.

The expansion strategy coincides with significant internal developments, including the completion of an IRC 409A valuation in preparation for its first equity raise. The company is implementing an employee stock option program, a move that could strengthen its position in the competitive market for professional talent.

Industry analysts note that SMAART's expansion could signal a broader trend of mid-sized professional service firms pursuing aggressive international growth. The company's focus on U.S. expatriate services particularly highlights an underserved market segment in international tax and accounting services.

The firm's plans to pursue government contracts and acquire an accounting-and-insurance practice suggest a strategic diversification of revenue streams. This multi-faceted approach to growth, combined with the company's reported strong financial performance, may represent a new model for professional services firms looking to expand globally while maintaining service quality and client relationships.