The subject of the research is the theoretical and methodological aspects of managing the financial stability of small enterprises, covering the set of economic relations, mechanisms, methods, and tools for ensuring the stability of the financial condition of small businesses in the context of cyclical fluctuations in the economy.The aim of the research is to provide a theoretical and methodological justification and develop practical recommendations for improving the effectiveness of managing the financial stability of small enterprises in the context of economic cycle phases, taking into account risks, fluctuations in business activity, and institutional transformations.Research methods. The study uses systemic, structural–functional, comparative, economic–statistical, analytical, index, and graph–analytical methods and artificial intelligence tools. Results of the investigation. The study found that managing the financial stability of small businesses involves a set of anti–crisis and adaptive measures at different stages of the business cycle: analysis and monitoring; planning and reserving; financial diversification; effective management policy; staff support and operational flexibility. A generalized list of the main tools for managing the financial stability of small enterprises and detailed tools for managing financial stability in the context of economic cycles are provided. Elements of managing the financial stability of small enterprises in the context of cyclical economic processes are proposed.Scope of the results. The results obtained can be used in the practical activities of small enterprises, in the work of state authorities and local self–government bodies in the formation of small business support programs, as well as in research and educational processes in the disciplines of «Financial Management», «Enterprise Economics», and «Crisis Management».Conclusions. It has been proven that managing the financial stability of small enterprises requires a comprehensive combination of theoretical knowledge and practical tools. It has been determined that financial stability is a state of optimal balance of resources that ensures the ability of an enterprise to withstand shocks and increase competitiveness. It is noted that small enterprises are characterized by high dependence on external factors and low amount of own resources, therefore, the priority strategies are identified as accumulation of financial buffers during periods of growth and flexible liquidity management during downturns, effective planning and diversification of funding sources. It has been proven that when developing management models, it is necessary to combine analytical diagnostic methods and mechanisms of influence. It has been established that ensuring the financial stability of small enterprises requires classical financial analysis and strategic planning of financial resource management, taking into account the phase of the economic cycle and specific risks.Prospects for further research include: quantitative modeling of cyclical fluctuations, taking into account the behavioral responses of small enterprises; studying the role of financial technologies in supporting stability; improving methods for assessing stability that take into account data instability during periods of crisis.