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STATE OF NEW JERSEY DEPARTMENT OF LAW & PUBLIC SAFETY DIVISION OF LAWA901 ANNUAL UPDATE FOR 2017 FOR SECOND LEVEL BUSINESS CONCERNS Instructions: Please review your records and check with your directors,
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Start by identifying your specific second level business concerns.
02
Gather all necessary information and supporting documents related to each concern.
03
Analyze each concern and determine the appropriate actions or solutions needed.
04
Create a detailed action plan for addressing each concern, including timelines and responsibilities.
05
Implement the action plan by following the established steps and monitoring progress.
06
Monitor and evaluate the effectiveness of the actions taken to address the concerns.
07
Make any necessary adjustments or changes to the action plan based on feedback and results.
08
Regularly review and update the status of each concern and its corresponding actions.
09
Communicate and collaborate with relevant stakeholders to ensure proper handling of the concerns.
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Document the entire process for future reference and improvement.

Who needs second level business concerns?

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Small and medium-sized enterprises (SMEs) that want to address specific challenges or issues
02
Entrepreneurs or business owners who are looking to improve the performance of their businesses
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Managers or decision-makers who want to identify and mitigate potential risks
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Consultants or advisors who assist businesses in managing their concerns and improving operations
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Investors or stakeholders who want to gain a deeper understanding of a business's potential risks and opportunities
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Second level business concerns refer to businesses that are suppliers to prime contractors or subcontractors. These are typically small businesses that provide goods or services to larger companies.
Both prime contractors and subcontractors are required to file second level business concerns.
Second level business concerns can be filled out by providing information such as the name of the business, the type of goods or services provided, and the relationship to the prime contractor or subcontractor.
The purpose of second level business concerns is to track and monitor the utilization of small businesses in the supply chain and ensure compliance with regulations.
Information that must be reported on second level business concerns includes details about the small business, the prime contractor or subcontractor relationship, and the nature of the goods or services provided.
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