The president’s youngest son doesn’t have a viable company just yet, though he’s laid the groundwork to build one up in the near future, a political source tells PEOPLE

Barron Trump is interested in starting his own business.

President Donald Trump‘s youngest son, who turns 19 in March, has his sights set on launching a real estate company, according to business filings that were first reported by Newsweek.

In a series of exclusive interviews with PEOPLE, sources in the Trump family’s orbit explain how the first son may move forward from here.

“Barron wants to follow in his dad’s footsteps,” a political source tells PEOPLE.

The source says Barron, a first-year student at New York University’s Stern School of Business, isn’t currently operating a viable company, but he’s laid the groundwork to establish his business in the future, when he’s ready.

According to online records, Barron and two business partners incorporated a real estate company called Trump, Fulcher & Roxburgh Capital Inc. in Wyoming on July 15, 2024 — the first day of the Republican National Convention, which Barron notably missed due to unexplained “prior commitments.”

Only four months later, on Nov. 14, Barron and his business partners filed to dissolve the company.

One of the business partners, Barron’s old high school classmate Cameron Roxburgh, told Newsweek that they chose to dissolve the company to avoid media attention after Donald was elected president, adding that they hoped to relaunch their business in the spring and eventually work toward making it a subsidiary of the Trump Organization.

Barron Trump shakes his father’s hand at the inauguration on Jan. 20, 2025. KENNY HOLSTON/THE NEW YORK TIMES/AFP via Getty

Though Barron himself has not commented on his business endeavors, PEOPLE’s source says that he has already adopted an entrepreneurial mindset.

“He is interested in business in general, developing properties, making money and being involved in successful projects,” the source shares. “He has his own ideas and understands what people of his age are looking for.”

The source continues, “He is quite entrepreneurial, bright and not shy about getting his own career in gear.”

Another political source notes that Barron’s business, no matter what it is or becomes, will always “sell access,” due to his family name and proximity to the White House.

Thus, the source says, his business would have the potential to become a conflict of interest for the president if not observed closely.

“It could be buying access, paying to play, and easy introduction to the power-seeking money-making goal that Trump has created a model for,” the source tells PEOPLE, adding, “People who would never be close to fame or power could use this as their opportunity.”

Melania, Donald and Barron Trump. Joe Raedle/Getty

A social source tells PEOPLE that when Barron is ready to make his business ideas a reality, first lady Melania Trump will make herself available to her son.

“Kids start younger today to make money, and also to find and pursue what interests them career wise,” the social source says.

“Melania will encourage this with warnings of being careful. She is very protective of her son, no matter what, and that should continue.”