Ryan Pagnacco CD hasn't added a story.
"The best laid schemes o' mice an' men, Gang aft a-gley" - Robert Burns, 'To a Mouse'
(Translation: the best laid plans of mice and men often go awry).
Back in 2017, the world was quite a different place. The
Canadian economy seemed to be growing, investment in tech businesses
was high, housing was much less expensive, and opportunities for
small businesses were abundant.
At the time, I was convinced that I could start a business that would
provide a much needed service to inventors, fellow entrepreneurs, and
SME manufacturers in Canada. From that concept spawned Enable
Innovation Product Development inc.
What Enable Innovation is and does is available here: https://www.enableinnovation.ca/
Suffice it
to say, the goal of this business is to do exactly what is says on the
tin; enable innovation... with a focus on Canadian manufacturing,
supporting veteran-owned businesses, and helping Canadian inventors
realize their product ideas.
The cost of starting an engineering company was steep, but I was
able to fund it personally with my "lump sum" pension from
veterans affairs (received for being wounded in Afghanistan).
This endeavor could only be bootstrapped, as no investor in the
tech sector wanted to invest in a service business which requires
personnel to grow.
The first few years were rough, but the company gained traction and allowed me to hire a team of exceptional engineers from various disciplines. We worked on many amazing projects, from commercial to defense products, industrial fixtures and tooling, and advanced manufacturing processes. We even managed to have a bit of fun along the way.
Then COVID hit.
To keep the company afloat, I took advantage
of the Canada Emergency Business Account; a loan from the
Canadian government to support businesses through the pandemic.
These funds allowed me to keep my engineers employed and able to
work from home while the world recovered, and would buy us time to
pivot our focus to align with the rapidly changing business landscape.
Surprisingly, we had a really good year in 2021, and it looked as though we would be able to service our debts, pay the bills, and possibly grow as a company... I was confident that I would even be able to draw a salary by 2022; something I hadn't been able to do since starting the business.
But, even the best laid plans of mice and men often go awry.
Due to massive market fluctuations, increased cost of living and
doing business, as well as some regulatory changes that affected many
of our clients, revenue began to shrink. Our best customers were no
longer able to afford to continue with their projects, and some even
refused to pay for the work that had been delivered. This downturn
hit the company hard.
Shortly into 2023, revenue had dropped so low that the business
could no longer afford employees, insurance, or rent... tough
decisions had to be made, and the team was laid off. Before long,
the entire business was moved back into my basement, where it has
languished since.
But, the dream that is Enable Innovation has not yet died. It is
just in deep debt. Over the last year, I have worked solo to service
the many debts that have built up since downsizing, including CEBA,
back payroll taxes, loans, and bills.... and I'm at the end of my rope.
Just get a job, they say... I have been trying... Since September of
2023, I have applied for over 300 positions, mostly relating to my
engineering technology education, but not solely. Of those 300
applications, I have sat for 1 interview, and have had no follow-up.
So, what am I asking for? As the title says; a bit of help
climbing out of the enormous hole I dug for myself in the pursuit of entrepreneurship.
How deep is this hole? my primary goal is to repay the loan to
the government for $40,000. The stretch goal would be to pay CRA all
of the back taxes I owe for the business, which is another
$45,000.
Beyond that, every additional dollar will be used to pay
back other loans and bills that are outstanding.
I've never liked asking for handouts, but I'm now in a dire
state and could use the help more than ever.
Highlights
See all activity53Activity
Set as ?
The campaign video will appear in social media and email.
The campaign cover picture will appear in social media and email.
The will appear at the top of your campaign page and in social media and email.
Reset ?
It will be removed from the top of your campaign and won't be used as default in social media and email. The will remain in the media gallery.
Share
Embed
Share a link
Delete update
Delete this story update?
Any pictures or videos will remain in the campaign's media gallery.
Report campaign
Report submitted
Thank you. We take reports like yours very seriously. Our goal is to keep the community safe.
Please know that we may contact you for more information, but that we won't notify you personally of our decision. If the campaign remains available within a few days, it's likely that we determined it not to be in violation of our policies.
Thank you. We've already received your previous report. If the campaign remains available within a few days, it's likely that we determined it not to be in violation of our policies.
Tell us about the problem. Please fill in both fields below.
Record a video
Upload a video
Nothing grabs attention for your cause like a personal video. Take a minute or two to record one now. Record a short video message of support. Or upload one from your device. You can preview or redo your video before you post it.
Nothing grabs attention for your cause like a personal video. Upload a short video message of support. Upload a short video message of support. Or record one right now.
- Most effective video length: about a minute.
- Maximum length: 5 min.
- You can preview or redo your video before you post it.
Heads up! The existing video will be replaced.
Email your friends
Join our team
Your endorsement banner
Use your endorsement banner to tell why our cause matters to you. Such personal endorsements are proven to increase campaign contributions. When enabled, your endorsement banner appears at the top of the campaign for everyone who visits a link you shared.
You can always adjust your endorsement from the campaign Share page—even if it's been disabled.
Your message
Tell people why our cause matters to you. Your personal message will encourage others to help. Easy, effective, optional.
Say it in video
Short personal videos by supporters like you are incredibly powerful. Record one right now and you'll help us raise more money. Easy, optional, effective.
Add a personal goal
Set a personal fundraising goal. You'll encourage more contributions if you do. And rest easy. There's no obligation to achieve your goal or bad consequences if you don't. Easy, optional, effective.
We have a video!
Video thumbnail
We'd love to show you our campaign video. Want to take a look?
, you're already on the team.
