We investigate the ultrafast response of the bismuth (111) surface by means of time resolved photoemission spectroscopy. The direct visualization of the electronic structure allows us to gain insights on electron-electron and electron-phonon interaction. Concerning electron-electron interaction, it is found that electron thermalization is fluence dependent and can take as much as several hundreds of femtoseconds at low fluences. This behavior is in qualitative agreement with Landaus theory of Fermi liquids but the data show deviations from the behavior of a common 3D degenerate electron gas. Concerning electron-phonon interaction, our data allows us to directly observe the coupling of individual Bloch state to the coherent $A_{1g}$ mode. It is found that surface states are much less coupled to this mode when compared to bulk states. This is confirmed by textit{ab initio} calculations of surface and bulk bismuth.
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