The small business vote on the EU referendum is still neck and neck, according to our reader poll.

Asked how they were planning to vote, 48%* said they would vote stay in, 47% said they would vote to leave, and just 4% were still undecided.

Ian Cass, managing director of the Forum of Private Business, which supports small and medium-sized firms, said red tape was one of the most pressing issues for small businesses. “The potential economic downturn and how big a risk that is, is also an issue. However, businesses are very good at dealing with risk.”

He added: “There’s a lot of fear and confusion [among the small business community] and our fear is a lot of people won’t vote.”

According to our poll, London is the most pro EU region: 56% said they would vote for remain and 38% for leave (5% were undecided). Northern Ireland is most in favour of Brexit (65% leave; 35% remain), closely followed by north-east England (59% leave, 40% remain, 2% undecided). The percentages are taken from the 1,312 readers who voted in our poll.

Small business attitudes towards the EU also vary depending on industry. Of those working in finance, 65% said they would vote to leave (30% said remain; 5% were undecided). Meanwhile, small businesses in the media and entertainment industry were most likely to vote for remain (69%).

Some micro-businesses (one to 10 employees) were still undecided (5%), but the majority wanted to stay in the EU (50% remain; 44% leave). Larger businesses, with 250 or more employees, were most likely to vote for Brexit (61% leave; 37% remain).

Allie Renison, head of EU and trade policy at the Institute of Directors (IoD), a professional body for company directors, business leaders and entrepreneurs, said: “There has been far too much exaggeration and misinformation from campaigners in this referendum, and businesses have had to fall back on their underlying assessment of the costs and benefits of EU membership.”

IoD’s research of its own members, which include directors of businesses of all sizes, found 63% were in favour of remaining in the EU and 29% backed leave. Renison says: “On the one hand, IoD members value access to skilled migrants, and a majority say the UK’s place in the single market is important to their business. On the other, three-quarters think the EU is too focused on trying to impose top-down solutions, and without reform, worry it faces economic decline.”

Andy Chamberlain, deputy director of the Association of Independent Professionals and the Self Employed (IPSE), said: “Staying competitive was the most common concern [about the EU among IPSE members], with most members wanting an assurance that the UK government wouldn’t ‘gold-plate’ EU legislation.”

Our reader poll suggests the small business community have a clearer idea of how they will vote than before the EU referendum campaign began. In February, we reported on a Federation of Small Businesses poll, which was split 47% remain, 41% leave, 10% undecided.

*All percentages have been rounded up or down for ease of reference

In the run up to the referendum, the Small Business Network has been running a Q&A series in which an expert panel have been answering small business questions on the EU referendum.

Sign up to become a member of the Guardian Small Business Network here for more advice, insight and best practice direct to your inbox.