Application of cubesats in astronomical observations has been getting more and more mature in recent years. Here we report a concept study of a small Compton polarimeter to fly on a cubesat for observing polarization of soft gamma-rays from a black-hole X-ray binary, Cygnus X-1. Polarization states provide very useful diagnostics on the emission mechanism and the origin of those gamma rays. In our study, we conducted Monte Carlo simulations to study the performance of three models of this small polarimeter. Silicon detectors and cerium bromide scintillators were employed in this study. We estimated Compton efficiency at different energies of this small Compton telescope, and its minimum detectable polarization degree when flying in a low earth orbit to observe Cyg X-1 with different observing time.