The goal of the research is to study types of risks, their identification and classification and assessment possibilities in activities of Latvian trade services enterprises. The authors have created classification of the trade services technological process risks and have carried out a survey of the most important risk factors in the stages of the trade services technological process. Also, the authors have created the trade services technological process risks matrix. The risks matrixis a quantitative assessment of risks. Risks have been arranged by their size of possible losses. The experts’ method for economic risks assessment has been used and a model of enterprises’ risks identification, classification and assessment for the trade services sector of Latvia has been made. The authors have used their own created model of enterprises’ risks identification, classification and assessment to research economic and financial risks by their effect on Latvian trade services sector enterprises’ development. From the year 2004 till the year 2011, the authors studied medium financial indexes of trade services enterprises in Latvia. Based on economic analysis of trade services enterprises’ medium financial indexes, risk-level dynamics assessment has been created, using the special coefficient method.