For many Newfoundlanders and Labradorians, the war brought economic opportunities. The war disrupted much of the European fishery, resulting in a high demand for fish from other sources. As a result, the colony's fishery enjoyed several years of high demand and high prices.
The Bell Island mines were one temporary exception to the business boom triggered by the war. Germany was one of the mines' main buyers for its iron ore. The loss of this customer led to a temporary setback in 1914. However, the mines eventually recovered.