The vast majority of UK businesses are investing in technology but the percentage is highest in London and the South.

A survey by payment processing company Worldpay questioned 1,000 businesses across the UK and found that 95 per cent of SMEs in the South were looking to expand their online reach.

The average across the UK was 88 per cent, with just over half of respondents based in London.

However, only three-quarters of London businesses have built a website while only 16 per cent accept contactless payment.

Seventy-one per cent of those based in London were using tech to improve efficiency and make faster business decisions.

“Against a background of market change, it’s encouraging to see that the capital’s businesses are leading the nation in technology investment - but all independent businesses need to continue to adapt to remain relevant to the modern consumer,” said Dave Hobday, UK MD at Worldpay.

"Our research shows there’s still unexploited territory for smaller retailers in London to explore.” 

We recently reported how many businesses are struggling to attract tech talent and how the skills shortage is damaging many companies.

The survey found 54 per cent consider tech a ‘significant threat’ to high street stores, with people increasingly turning to Amazon and other online retailers for goods.

He added: “Londoners are fiercely protective of the city’s rich mix of culture, people and shops, with more residents actively seeking out independent stores than anywhere else in the UK." 

Uber has warned that new rules requiring private hire drivers to pass an English test could "threaten the livelihood of thousands of drivers" in London.