This paper presents an analysis of the different ways to construct a single-sided axial flux machine using soft magnetic composites (SMC). It focuses in particular on small machines that, in their simplest form, can be produced in a single pressing operation without the need for assembling multiple parts. Adding extra components to the machine such as tooth tips can increase the torque produced within a given volume, or reduce the volume of the machine. These extra benefits come with a cost of more components. However given the powder metallurgy process, it is not as simple as to say that more components means more cost. The relative cost of the SMC components is compared to the performance gained with increasing component numbers. It is shown for the size of machine considered here that more components does mean reduced performance for a given cost. Therefore it is shown that for small machines, where it is possible to press the stator in a single component, the simplest possible realisation of an axial flux machine is likely to be the most appropriate in all but extreme situations.