Question on PR update?

There is no problem you can add you business site link in your footer of your site no need to add no follow attribute. Now you just collect the backlink from another sites. your pr updated will updated in next updation. have to try to get the backlink from ngo and govt site to improve your ranking also.

 

yes, You can use nofollow links to prevent leakage of PageRank.

 

Definitely bad neighbor linking will drop your pr.

 

I think Google change the algo, so that quality of the backlink matters more than quantity of the backlinks.
I dont see any difference in PR for both my blogs. Maybe the updating is still in progress.