Autopopulate EntityReference field using rules?
You want the Entity Reference Prepopulate module.  It's very similar to the Node Reference URL module but the maintainer of that module is stubborn and sticking to only referencing Nodes and not Entities.

Rules has always had a hard time with prepopulating reference fields so please don't go that route.  You can combine Rules and ERP by using Rules to populate other fields and ERP to handle the referencing.

Everything is URL based so you must setup your links appropriately.  The structure is node/add/article?[field_ref]=[id]
So you could have
node/add/review?field_business_ref=457

your link to the form could look something like l('add review', 'node/add/review?field_business_ref='. $node->id)