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Business Intelligence technology for over 20 years is the market leader in analytical processing of data. As numerous market researches demonstrate Business Intelligence has substantial affect on global competitiveness of enterprises and on the stability of their position in the market, which is particularly important in times of economic downturn. Although main users of this technology are large companies and corporations, software vendors are still looking for solutions that are also available for the SME (Small and Middle Enterprises) sector and non-profit enterprises. One option available recently is possibility to use Cloud Computing environment. The article considers the opportunities and risks posed by the organization of Cloud Business Intelligence system on the example of using it in SME sector.