This is according to secretarial software specialists Inform Direct, based on statistics from Companies House and the Office for National Statistics.
The latest figures show that the county is now home to 50,849 businesses.
John Korchak, director of operations at Inform Direct, said: “These latest figures show that Lincolnshire clearly provides a supportive environment for new business ventures.
"Passing the 50,000 milestone continues the county’s success during 2021 when it achieved a record year for new company formations, despite the considerable challenges of the COVID-19 pandemic.”
This milestone announcement follows Lincolnshire enjoying a record year for company formations during 2021 when 6,903 new businesses were established.
Mr Korchak added: “Lincolnshire is home to a wide range of industries including: agri-food, manufacturing, energy, health and care, ports and logistics, defence and security.
“The county is also an attractive place to live and work, with relatively low housing costs compared to other parts of the UK.”