IN THE KNOW:
10 to Watch nominations close November 9
It’s become known as a strong predictor of exponential growth and success and a launchpad for startups to gain awareness and recognition of their new companies.
Now, as the Douglas 10 to Watch awards program enters its 17th year, Vancouver-Island entrepreneurs in business for less than three years are encouraged to apply to be among the next cohort, joining alumni that includes Certn, Elate Cosmetics, Barnacle Systems, VoxCell BioInnovation, DeeBees Organics and Refire Kitchen.
Nominations close at midnight on November 9, after which the application process will begin. Get the details here.
Songhees and CRD sign significant collaborative agreement
The Songhees Nation has announced it has signed a Marking a significant milestone for regional reconciliation, the Songhees Nation and the Capital Regional District (CRD) have signed a Government-to-Government Protocol Agreement with the Capital Regional District (CRD).
In a release the Nation states that this “significant milestone for regional reconciliation” will guide a renewed relationship founded on mutual respect, collaboration, and shared prosperity.
Songhees Nation holds Aboriginal rights and title and Douglas Treaty rights over their territory and is negotiating a modern treaty through the BC Treaty Process.
The Protocol Agreement provides opportunities for Songhees and the CRD to collaborate and discuss major decisions in a way that recognizes and respects the Nation’s critical role in the region.
“We are inviting the CRD to walk down a new path with us. Since the CRD operates within our territory, it is important that we work to understand each other,” said Songhees Chief Ron Sam. “After all,” he continued, “Our people were here long before the CRD or any of its municipalities. This Protocol Agreement reflects the strength of our Nation and our commitment to working collaboratively with our neighbours.”
“This Protocol Agreement represents a new chapter in our relationship with the Songhees Nation,” said CRD Board Chair Cliff McNeil-Smith. “It is a testament to our shared vision for a future where our communities thrive together. We look forward to building on this foundation and creating lasting benefits for all.”
Federal budget promotes business, innovation while forecasting large deficit
After an 18-month wait, Canadian businesses finally received key updates this week on the Canadian government’s plan to stimulate economic growth and investment.
Budget 2025 introduces targeted measures for business investment and innovation, including immediate expensing for manufacturing and processing buildings, enhanced SR&ED credits, and clean economy incentives.
Businesses in Canada can now immediately write off the full cost of new or used manufacturing and processing buildings acquired after November 4, 2025, and brought into use before 2030, under expanded capital cost allowance (CCA) rules.
The Scientific Research and Experimental Development (SR&ED) refundable investment tax credit limit rises from $4.5 million to $6 million, supporting more innovation-driven businesses.
Several clean economy input tax credits are expanded, and tax depreciation for clean energy assets is accelerated, supporting sustainability-focused investments.
There are no changes to base corporate or personal tax rates in 2025, which offers stability for business financial planning, and the federal government maintains a commitment to a declining debt-to-GDP ratio but forecasts a $78.3 billion deficit for 2025-26.
In its analysis of the 2025 budget the Greater Victoria Chamber of Commerce noted it was pleased to see the government make needed reprioritizations and cuts, while investing in new defence spending.
“Budget 2025 takes a step toward balancing fiscal restraint with targeted investment,” said Chamber CEO John Wilson. “But the test ahead is execution and follow through — ensuring that policies translate into real-world competitiveness and growth.”
Victoria City Council weighs budget cuts
As it attempts to avoid a large tax hike for residents, the City of Victoria is assessing service and program cuts that could significantly impact local amenities and community programs.
Among the items on the chopping block is the popular hanging flower basket program, which may see its budget cut in half for 2026 with a focus only on main tourist areas. The downtown bike valet program is also at risk, along with reductions to grants for community organizations including the South Island Prosperity Partnership, the Alliance to End Homelessness, and local arts initiatives like Theatre SKAM.
Council is weighing several budget scenarios, ranging from a 7% property tax hike with modest cuts to a 4% hike accompanied by deeper reductions. Proposed savings measures include eliminating vacant staff positions, reducing security at city hall and parks, scaling back multi-modal corridor treatments, and deferring beach access projects.
Other potential cuts include scaling back the rollout of electric vehicle charging stations and reviewing the future funding of the Youth Bus Pass program.
These plans come as the city tries to manage a tight fiscal environment, with an overall 2025 tax increase set at 6.99%, distributed as 8.18% for residential and 5.6% for business properties.
FROM THE PAGES OF DOUGLAS:
We share the new rules, tools and methods to help make your meetings matter.
MARK YOUR CALENDAR:
NOVEMBER
November 12: Westshore Chamber of Commerce AGM
November 13: EcoStar Awards
November 15: Colourful Business Expo
November 17 – 21: Victoria Tech Week
November 18: Chamber Marketplace Mixer
November 20: City of Colwood Prosperity Roundtable
November 25: Chamber Breakfast with Mayor Alto
DECEMBER
December 1 -2: Government Innovation Week
December 5: Destination Greater Victoria Christmas Luncheon
JANUARY
January 26 – 28: 2026 IMPACT Sustainability Travel & Tourism Summit
Douglas Weekly brings local business news, insights and community spotlights to keep Victoria and Vancouver Island In the Know. Got a story tip? Email us.
