25/10/2012 06:41 BST

Alan Sugar Slams BBC For Axing 'Young Apprentice'

Lord Sugar has lashed out at the BBC's decision to axe 'Young Apprentice', saying that it provides inspiration for young people at a time when they are being let down by other public figures.

The junior version of his hit entrepreneurial show will have its third and final series aired in November after which the BBC has decided not to commission any more.

In the wake of the Jimmy Savile and Lance Armstrong scandals, Sugar believes that children need positive role models, like the budding business experts featured in the show, more than ever.

young apprentice

'Young Apprentice' is returning to our screens in November

Speaking to The Sun, he said: "It’s very sad. People aspired to be Lance Armstrong and they have all been let down.

“It’s important for young people to aspire to others like David Beckham.”

Sugar has blamed BBC financing and scheduling reasons for the axing.

He said: “Regretfully, if the BBC can’t do the show I may have to take the format somewhere else. I’m passionate about business programmes with youngsters.”

The new series of 'Young Apprentice' starts Thursday 1st November at 8pm on BBC One.