Small and medium enterprises: state of the art an perspectives in Italy and Europe - The article focuses on the role attributed to the Internet by small and medium enterprises. In 2004, 2006, and 2007 the author investigated a sample of companies belonging to the main economic sectors. Regarding 2007, the watching also covered a sample of European companies in order to identify similarities and differences. The empirical evidence lead to a scenario studded with lights and shadows. The lights concerns the improvements achieved, and are mainly related to the structure of web sites, relationship, and the presentation of products. The shadows relate to some elements of the Internet marketing mix (distribution, communication and pricing), and are also connected to the strategic guidelines of the enterprises. Keywords: Internet, Internet marketing mix, small and medium enterprises, Italy, Europe, empirical research.