Using a new detailed national microenterprise survey, this document sheds a light on the structural and institutional problems that affect the development of microenterprises in Colombia and characterizes the junctural impact of the COVID-19 crisis in this sector. The findings in this document are positioned as valuable inputs for public policy aimed to address the informality and lack of productivity and innovation that characterizes these enterprises in LAC, looking forward to unlocking the growth and welfare of its intrinsic economic potential.