Our daily blend of the latest news, trends and tips for the small business community.

What’s going ‘on’:

President Obama said the government needs to better support “every risk-taker and entrepreneur who aspires to become the next Steve Jobs.” (J. Scott Applewhite/AP)

Global economy faces grim outlook: The world economy will slow sharply in the coming year and Europe will fall into a recession by the end of 2012, according to predictions released by the International Monetary Fund on Tuesday. Overall, the world economy is expected to expand 3.25 percent in 2012, revised down from the 4 percent projected by the IMF in the fall.

Apple soars past earnings expectations: Apple sold 37 million iPhones in the final quarter of the year (double the figure of the previous quarter) and blew past earnings expectations with $46.33 billion in revenue. The company also shipped 15.4 million iPads in the quarter, again more than doubling sales over the same period last year.

Keep an eye ‘on’:

Business leaders luring start-ups to St. Louis: A Missouri group on Tuesday launched Arch Grants, a new national competition welcoming entrepreneurs to St. Louis and offering the best of them $50,000 apiece to start companies in the city. The group will solicit entries this spring at business schools and start-up events across the country and plans to have an expert panel pick winners in May.

Helpful advice ‘on’:

How to transition to the start-up life (On Small Business)

How investors can evaluate start-ups in seconds (Inc.)

How to make your good Web site great (New York Times)

How to claim home-office tax deductions (Wall Street Journal)

How to recognize the lies of pitch meetings (Open Forum)