The article presents an analysis of the influence from both public policies and the combination of factors including innovation and social capital on the competitiveness of small and medium-size enterprises (SMEs) in the field of Graphical Arts in Valle del Cauca, Colombia. The fundamental rationale behind this research work is that the development of the sector is a reflection of its intellectual, human talent, supplemented by those relations that are established among the actors of the economic and financial system, where social capital is of special interest for Colombian political-economic institutions. Recognizing the contemporary context as well as the requirements and supports generated from Colombian competitiveness policies, it can be concluded that it is difficult for a SME to incorporate knowledge via product or service innovation, unless it does it from a associative environment, where shared knowledge and the strengthening of the social relationships with peers would enable it to reach and remain on this path. It is recognized, however, that low levels of innovation and social capital exist in the region.