This especially was the case with respect to IT and Internet companies. There are only approx. 100 medium sized firms with 150250 employees. Average age of companies is 4 years only two years for Internet companies. Very few freelance employees in Southern Europe primarily due to labour market restrictions.
Growth is above average in Germany and Scandinavia.
Small European MM companies are finding it more difficult to raise capital than their North American counterparts. Growth financing is easier for the mediumtolarge size MM companies as they typically belong to a strong parent company. MM companies are typically not international they tend to focus on their domestic market. The exception is the Game Publishers who rely on exports. CDroms with cultural emphasis are popular in Southern Europe not Northern Europe.