Studies on Information Technology (IT) outsourcing in small businesses are relevant because of the prominent position these organizations occupy in the market. Thus, this research aims to identify the risks of outsourcing IT in small companies and analyze the initiatives/actions taken to reduce such risks. As a research method, the study of multiple cases was used in small companies that use Information System (IS) outsourced. Data analysis was used to analyze the data. The results indicate that the model identified for small companies, where short-term strategies and reactive actions prevail, end up making them vulnerable to the risks of IT outsourcing. Limitations and research opportunities are included in the final considerations.