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Calling all entrepreneurs. Win an opportunity of a lifetime. Lord Sugar is ready to set up a new business with an initial investment worth a quarter of a million pounds

In a climate where small businesses are being encouraged to get the country's economy back on its feet, Lord Sugar today announced a twist to the 2011 series of The Apprentice.

Next year's successful Apprentice will no longer win a £100K job working in one of Lord Sugar's businesses. Instead, Lord Sugar will set up a new business with an initial investment worth £250,000 – a life-changing opportunity in this time of economic hardship when re-growth and long-term commitment are the key to financial recovery.

The winner, whether a keen business rookie or someone who's had several years of experience, will choose the type of business they want to set up – be it a digital online firm, catering company or fashion accessories line. Lord Sugar is looking for an Apprentice with the flair and drive to build a business, which he will jointly own with the winner, each taking a 50% interest. Lord Sugar will be mentoring and guiding his winning Apprentice, bringing with him over 40 years of his own business experience to help the business take its first fledgling steps.

Lord Sugar comments: "In the past years I was searching for a candidate to employ, now I am looking for a business partner. The good news is they won't have to put any money into the new company, I will. With an injection of £250,000 of value into this start up company, this is an amazing opportunity for someone who will choose the type of business it will be. I will be looking for a person with some expertise who can demonstrate they have a good understanding of all facets of business, so as to take this venture to another level."

With the stakes set higher than ever, Lord Sugar and his eagle-eyed advisors, Nick Hewer and Karren Brady, will be watching how the 16 eager new apprentices perform 12 challenging tasks – each striving to prove they have the commercial acumen and skill to be worthy of entering into a business with Lord Sugar as winner of The Apprentice 2011.

It's not too late for those budding apprentices who would still like to apply to take part in the next series of Â鶹¹ÙÍøÊ×Ò³Èë¿Ú One's The Apprentice Series 7 (which will broadcast in 2011). They should log onto bbc.co.uk/apprentice. The closing date for applications is 30 June 2010.

Transmission date for Series 7 is yet to be confirmed. However, Series 6 of The Apprentice will broadcast later this Autumn on Â鶹¹ÙÍøÊ×Ò³Èë¿Ú One.

The Apprentice is a talkbackTHAMES production for Â鶹¹ÙÍøÊ×Ò³Èë¿Ú One. Michele Kurland is executive producer, Mark Saben is series editor. Jo Wallace is the executive editor for the Â鶹¹ÙÍøÊ×Ò³Èë¿Ú.

RB