- December 24, 2021
- Posted by: Stratford Team
- Category: Business
FAIRMONT– In order to help retain businesses and ensure their success, the Fairmont Economic Development Authority was given a $20,000 grant for succession planning from the Southern Minnesota Initiative Foundation. Succession planning is a strategy for replacement planning or passing on leadership roles.
Fairmont’s economic development coordinator, Linsey Preuss, explained that every year SMIF puts out a grant application for an economic development grant.
“They encourage communities to think differently about what they would like to do in the future and what their needs are,” Preuss said.
She said one of the challenges seen in Fairmont is succession planning and the lack of people knowing what resources are out there.
“It’s not like people buy or sell a business every day. It’s something you do maybe once or twice in a lifetime,” Preuss said.
The plan is to start planning the workshops in the first quarter of…
