The reason that most businesses fail in their first year is B. Lack of planning.
What is a business plan?
A business plan has been defined as is a detailed formal written document, which startups and other businesses use to define their business goals, the methods for attaining those goals (from the marketing, financial, and operational point of view), and the time-frame for their achievement.
It may not be lack of trained employees, poor choice of location, or lack of interest, but it usually starts with lack of planning.
Thus, the reason for business failures in the first year is Option B.
Learn more about business failures at https://brainly.com/question/19146345
