Confidence among business professionals has risen for the first time since the end of last year, according to The Institute of Chartered Accountants' index of business confidence.

The business index rose by over 17 points to reach -28.2 at the end of March, up from -45.3 at the end of the previous quarter.

"While the change in outlook is encouraging, I still believe that difficult times lie ahead. I would urge businesses to not be complacent and be measured in any steps they take in response to an economic recovery," said Mr Izza, head of the ICA.