Colombia performs relatively well in this first SME Policy Index assessment focusing on Latin America, outperforming the LA7 average across the majority of the assessment dimensions. SME strategic orientations for the period covered by this assessment were defined in the framework of the country’s National Development Plan 2014-18, as well as its Productive Development Policy 2016-2025 (CONPES Document 3866 of 2016), and supported by a well-established “National SME Support System”, which includes institutionalised mechanisms for public-private consultation, and specific programmes targeted to subjects such as productive transformation and innovation.Going forward, while the country does have a large existing SME support offer and a relatively strong planning and design culture, Colombia could consider a re-assessment of its existing strategic documents and institutional organisation related to SME development, prioritising the clear definition of roles and responsibilities; integration of measurable, impact-oriented KPIs; and clearer communication of the integrated support offer. The changing of political administrations in the country, which took place at the close of this assessment, offers a particularly timely moment to consider these possible next steps.