The Government has made €21 million available through Enterprise Ireland over the next three years to help budding entrepreneurs set up their own businesses.

Details of the new funds for the Community Enterprise Centre Scheme were revealed yesterday by Micheál Martin, the Minister for Enterprise, Trade and Employment, who said it would be focused on areas recently affected by significant redundancies.

"Enterprise Ireland will target funding at those communities where job losses have been most acute and there is an evident need for this type of initiative," Mr Martin said.

Mr Martin said he expected the latest funding for the scheme to help 330 new businesses get off the ground, creating about 1,500 jobs in the process.

Launched in 1989, the Community Enterprise Centre Scheme has been allocated €44 million in exchequer funding.

The scheme operates from 147 centres and has helped support 840 businesses employing over 3,800 people throughout Ireland.

The scheme operates as a partnership between the State and a local community. Business centres are provided by a community with Enterprise Ireland giving up to 50 per cent of the funding to run the building. The balance is raised by the local community.

The new scheme provides for both capital infrastructure and management support.

Details of the first round of funding will appear in the next two weeks in the national press.