The overall tone of the survey was positive, with 84% claiming things were going well, in spite of problems such as increased energy costs, high interest rates, poor exchange rates, difficulties in securing credit and capital investment, and competition from cheap imports.

The survey said that leather and footwear companies, specifically, had turned their operations around by making inroads into the Venezuelan market.

A year ago, Colombia’s president, Álvaro Uribe, promised a new list of policies to help the SME sector. Business representatives expect these policies to appear in a document the government will publish on August 23.