Journal of Information Security Research Kong Li, Yan, Mei Wen 15 4 2024 https://doi.org/10.6025/jisr/2024/15/4/138-147 https://www.dline.info/jisr/fulltext/v15n4/jisrv15n4_2.pdf With the deepening of economic globalization and the intensification of market competition, risk management has become a crucial task for enterprises. This article aims to analyze the development of financial instruments for risk management of small and medium-sized enterprises based on fuzzy evaluation. Firstly, we will introduce the basic principle and application of the fuzzy evaluation method and then analyze its application in risk management, especially for small and mediumsized enterprises. Next, we will elaborate on the main methods and applications of risk management financial instrument derivatives based on fuzzy evaluation, including selecting financial instruments, risk assessment, and response strategies. Finally, we will demonstrate the application and effectiveness of this method in practice through specific case studies and explore future development directions and challenges.