The fostering sector is at a crossroads. Recent reports in The Mail have highlighted a troubling trend: private fostering agencies, backed by profit-driven private equity firms, are turning vulnerable children’s care into big business. One of the UK’s largest private fostering firms, Compass Community Ltd, saw its profits soar to £10.8 million in just one year; a staggering increase from the previous year’s £3,000. Notably, the three largest independent fostering agencies in England; Compass, the National Fostering Group, and Polaris are all owned by private equity firms, highlighting the increasing dominance of profit-driven entities in the sector. Meanwhile, the number of foster carers in England has fallen to a ten-year low, exacerbating an already critical shortage of carers.
As the need for foster families rises, charities like Step by Step are stepping in to provide an ethical and community-focused alternative. Currently, voluntary organisations offer just 9% of all Independent Fostering Agency (IFA) placements, according to recent data. This underscores the importance of fostering with a charity like Step by Step, which offers a transparent and ethical alternative to profit-driven agencies. For those seeking to make a meaningful impact, choosing charity foster care services ensures resources are reinvested in young people, not shareholders. Here’s why fostering with Step by Step, a fostering agency recently established by a charity with 30 years of experience supporting young people, stands out among foster care charities in the UK and makes all the difference.
Reinforcing the Mission, Not the Bottom Line
Private fostering agencies often charge local councils several times more the cost of in-house placements, turning children’s social care into a profit-making venture. At Step by Step, we believe fostering should never be about financial gain. Instead, it’s about providing safe, loving homes for vulnerable children while reinvesting every surplus penny back into vital services that prevent youth homelessness and empower young people.
By fostering with Step by Step, you’re not just helping one child, you’re contributing to a broader mission to support disadvantaged young people across South Central England. Placements will help fund our counselling services, supported lodgings, and education programs, giving young people the tools they need to thrive.
Valuing Foster Carers
At Step by Step, we see foster carers as heroes who play a pivotal role in shaping young lives. That’s why we provide:
- Comprehensive training tailored to each carer’s needs.
- Ongoing support, including access to counselling and professional advice.
- A family-like ethos that values carers as integral members of our community.
When you foster with us, you’re not just a number in a system, you’re a valued partner in a shared mission to create lasting change.
Tackling the Foster Care Crisis
England needs 6,500 more foster families to meet rising demand. Many children remain in unsuitable placements because there simply aren’t enough carers. For those considering fostering, this is your chance to make a real difference in a child’s life.
Step by Step offers a transparent and ethical fostering service that puts children first. Unlike profit-driven agencies, we ensure that the resources generated by fostering are channeled back into supporting more young people, not shareholder dividends.
An Ethical Alternative to Profit-Driven Agencies
The dominance of private equity firms in fostering has led to a commodification of care. Small, local agencies are being bought out, and profit motives are taking precedence over child welfare. This approach is incompatible with the altruism and care that should underpin fostering.
Step by Step’s charity model is different. We remain focused on our founding principles: empowering young people, preventing homelessness, and ensuring that every child has the opportunity to grow up in a stable, supportive environment.
Be the Hero a Young Person Needs
Fostering is a profound act of kindness and courage. By opening your home to a vulnerable child, you’re not just changing their life, you’re transforming your own and contributing to a better future for all young people.
If you’ve ever considered fostering, now is the time to act. Join Step by Step’s fostering community and be part of an ethical, life-changing movement. Together, we can ensure that every child has the chance to thrive.