NJBIZ 2006 Business of the Year Awards, Withum Smith + Brown - Cetified Public Accountants and Consultants


Withum Smith + Brown Photos



view all images

	The Star Group

	Winner

	Advanced Health Media

	Union, NJ

	ATX Communications

	Woodbridge/Mt.Laurel, NJ

	SBLI USA Mutual Life Insurance Co.

	New York

	Synchronoss Technologies Inc.

	Bridgewater, NJ


WithumSmith+Brown
Ivan Brown,
Managing Partner
New Brunswick, NJ

www.withum.com

In 1987, Fred Withum decided to retire from the accounting firm he had cofounded in 1974 and move to Vermont.
>>>The remaining partners supported Withum’s decision but they faced the difficult task of buying out his majority stake in the firm, WithumSmith+Brown, Certified Public Accountants and Consultants.
>>>The strategic plan they conceived to honor that obligation helped ensure the firm’s continued growth. Today, the firm has more than 300 employees in six offices in New Jersey.
>>>The firm started in 1974 in a yellow and brown Victorian building in Milltown. Early challenges included lack of name recognition and limited space, says Ivan Brown, the firm’s
managing partner.
>>>“The firm nearly lost a client because the client’s bank proviso stated a preference to use a larger accounting firm,” Brown says.

To grow, WithumSmith embarked on a course of opening satellite offices, which added space and provided access to new markets. The firm’s first satellite office was in Princeton.
>>>“The partners knew that, in order to compete and grow successfully, they needed to expand geographically,” Brown says.
>>>The firm also expanded into new niches, from health care consulting and municipal accounting to international taxation and corporate governance.
>>>Moreover, the firm took steps early on to smooth out the seasonal nature of its tax business. It began handling tax preparation for nonprofits, which typically have until June 30 to file. While nonprofits couldn’t pay full rates, the work helped WithumSmith avoid the seasonal layoffs that plague accounting firms.

Visit the WithumSmith+Brown Website

© 2006 Journal Publications Inc. All information on this site are copyright of Journal Publications Inc. All images are the sole property of Journal Publications Inc. and no rights are granted for any use without the express written consent of Journal Publications Inc.