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 deci-sions. It found that SMEs view security-related issues as theirgreatest threat, flowed by viruses and worms, and credit card fraud.