6. Discussion and conclusionThis paper, while not conclusive, encourages a broader appre-ciation of the subtleties of risk decisions in dynamic, complex andoften covertly inter-connected context of e-business. It does notclose the debate rather it acts as a starting point for further debate.This study makes four contributions to improving our under-standing of technology risk within SMEs, using a psychometricapproach to examining owner/manager perceptions relating to e-business/on-line risk.Its first contribution is to extend the more technically-focussedstudies of technology usage within SMEs, such as Levy et al. (2005)and Levy and Powell (2003). This paper emphases the importanceof perception of risk in influencing technological investment decisions. It found that SMEs view security-related issues as their greatest threat, flowed by viruses and worms, and credit card fraud.